Fortune Oil & Gas, through its subsidiary Cressent Energy, is reopening six shallow oil wells in North Texas, US.
The company said it expects to pump out 20-25 barrels of oil per day from these reopened wells.
Cressent anticipates producing up to 200 barrels of oil a day by the end of the year after reopening almost three dozen Texas oil wells.
According to Fortune Oil & Gas, oil wells are sometimes reopened because rising prices have made what were once economically unviable deposits viable once again.
Last week, Fortune Oil and Gas completed its acquisition of Cressent Energy.