The company intends to undertake a workover program on each of these four wells as the most cost efficient means of increasing production on these wells.
Topaz also plans to bring several additional wells back on-line through this workover program.
This acquisition includes one injection well, critical for the Topaz North Texas shallow oil project because it enables Topaz to dispose of the water generated from production of existing and new wells in an inexpensive manner, instead of paying third parties to haul the water away, the company said.
The remaining consolidation of this Topaz North Texas shallow oil project is scheduled to be completed this month.
Topaz is an independent oil and gas company focusing on production, acquisitions and developmental drilling opportunities within proven producing areas of north, central and west Texas.
