The acquisition consists of 15 leases producing approximately 54bopd (8/8ths) with working interests ranging from 37.9%-100% with associated net revenues ranging from 32.3%-87.5%.
Current production is from the Permian Age, San Andres Formation, which produces at a depth of 4,100ft. This acreage is adjacent to other San Andres production and offers Doral Energy the possibility of both down-spacing to exploit un-drained acreage as well as to stimulate current producers in order to potentially increase production.
Headquartered in Midland, Texas, Doral Energy is an oil and gas exploitation and production company. According to the company, its strategy is to grow a portfolio of under-developed production and exploitation assets with the potential for generating near-term increases in existing production through operational improvements, and longer-term development of proved undeveloped reserves by infill drilling.
