Drilling service firm TNC Energy owns and operates a fleet of ten rigs. For the West Texas drilling program, it will manage 9-Deep Well project, and a 12-Shallow Well project from beginning to the end, including all ancillary services which will help Treaty complete the program cost effectively.
Treaty Energy has already arranged funds for both 9-Deep Well project, and a 12-Shallow Well project. Upon drilling all the 21 wells, the production levels will increase to about 400 barrels/oil per day.
Treaty Energy Co-CEO Bruce Gwyn stated, "With the expertise of TNC Energy, our production will start to rise quickly, which brings revenue directly to the bottom line."
The Drilling program is expected to be completed by the end of the first quarter of 2013.
