The project includes one oil-producing well at a depth of 11,800ft on 186 acres and will add about $14,400 per month in oil revenues for the company.
According to the company, the well is now offline because of the discovery of a hole in the tubing and will require a minor work-over.
United American Petroleum chief financial officer Christian Negri said one of the company’s integral models is the acquisition of oil-producing properties with exploitation opportunities.
US-based United American Petroleum is an independent exploration, development, acquisition, production, and operating company.
