When the company acquired the field in August there were 44 wells producing an average 35boed, and after working over eight wells, there was an immediate increase in production to over 50boed.
Exterra expects to have the final production settle out at around 65-70boed and this increase in production will put the company’s current production at an average of over 110boepd.
Exterra CEO and president Todd Royal said that Exterra plans to further enhance production by developing additional wells in the north west Texas field, which spans 3,100 acres and has up to 90 drilling locations.
"Exterra also plans to increase production by working over wells in other fields that we have acquired as well as drilling new wells on these leases. Exterra also is involved in a number of other acquisition prospects which we are reviewing to enhance our oil and gas portfolio," Royal said.
