US based Xtreme Oil & Gas said it has the rights to acquire 50% of the leases and working interest on 8,516 acres in Kansas.
The company’s newest project in Kansas is part of a larger trend that has produced 23,824,000 barrels of oil from the Maquoketa Dolomite and the Viola Dolomite formations representing 12% of the original oil in place.
It is estimated that the remaining 88% of the oil (217 million barrels) in the larger trend is still in place within the historic production boundaries of these leaseholds, the company said.
Xtreme plans to produce this formation across different leases covering approximately 8,516 acres in central Kansas.
Dallas-based Xtreme is engaged in the exploration and production of crude oil and natural gas.