Cressent Energy, a subsidiary of Fortune Oil and Gas, is preparing for oil extraction on the Liberty Salt Dome in Texas, US.
The Liberty Salt Dome is an area south of Houston that the company purchased as six individual leases in 2010 as proven undeveloped drill sites.
Several older wells are in place in this area, and Cressent is begining the reconditioning phase of these wells so it can move into oil development of these leases, the company said.
The reconditioning consists of checking the fluid levels and swabbing the wells, or getting rid of the salt water.
The company will then proceed with cleaning of the gravel packs and building the pad for the rig around the wells and clearing flow lines to the tank batteries.
Cressent expects to have the first well drilled in the third quarter of 2011 and aims to drill up to five wells on this field.