Black Dragon Resource has put its Haynesville oil well project into production. These wells are capable of producing 150 barrels per month.
The company believes these wells to be good candidates for solar technology driven pumps to decrease costs associated with pumping.
Scott Smith, chairman and CEO of Black Dragon Resource, said: “Dragon continues to turn producing wells on as fast as possible to increase revenue for shareholders. Dragon also continues to focus on 21st century technologies, which increase financial efficiencies associated with oil drilling and pumping.”
Black Dragon Resource is an oil and gas exploration and production company currently focused on the acquisition of mature, producing and existing domestic oil and gas fields. The company intends to re-complete additional shallow producing wells and to expand its focus to include drilling of new wells, some to deeper levels, and to purchase additional leases.