The plans include potentially developing up to 110 oil and gas wells from this field to supply gas to Universal’s 22 major public utility customers nationwide.
ProGas, the operator and developer of the property, prior to Universal’s involvement, re-entered existing wells that were abandoned by the previous operator to test potential zones for production.
Initial estimated reserves of the field were under two million bbls of oil and just over four million mcf of natural gas.
After testing these wells and a geologic study, the projected and estimated reserves were adjusted to over 20 million barrels of oil and 17 billion cubic feet of gas from 11 potentially productive oil and gas sands.
