Aztec Oil & Gas said it will participate in the Welder A36 well located in San Patricio County, Texas.
The well was drilled to a depth of approximately 6,112ft and encountered 7 to 10 zones of interest.
Cores and formation tests were run and the well was completed at approximately 5,815ft.
The company said that through the last several days of December, the well was averaging 31 barrels of oil per day and 30mcfgpd of gas.
Internal log evaluations indicate possible total reserves of 50,000-80,000 barrels of oil for the well.
Aztec is an oil and gas exploration, development and production company focusing on Texas and other areas of the US.