Originally completed in 1965, the Texaco Nickerson 21 well produced 52,000 barrels of oil and 2,212,900mcf of natural gas, until a tubing leak killed production in 1979.
Texaco and Sun Oil were the original operators of Texaco Nickerson 21 well.
Chestnut Petroleum president and founder Mark Plummer said that the Texaco Nickerson 21 is a prime example of the opportunities available to increase production in older, established fields throughout North America.
"Before it went offline, the Texaco Nickerson 21 well produced at 120bbl of oil and 400mcf of natural gas per day," Plummer said.
The Texaco Nickerson 21 is also the only well to have been drilled and completed in the Hackberry Frio 2 sand in the southeast fault block of the Gillis-English Bayou field, the company said.
Available geological and geophysical information indicates the reservoir may have re-pressurized, which may allow for higher production rates than Texaco and Sun Oil’s rates.
Chestnut Petroleum acquired the Texaco Nickerson 21 well as part of its purchase of Texaco and Sun Oil’s leasehold in the Gillis-English Bayou area.
Chestnut Petroleum is a owner-operator that conducts drilling, recompletion and re-entry, and general operations in proven producing oil and natural gas fields primarily in Texas and Louisiana.
