To ALL: I have two versions of Oilex acquiring the Luling field one with BT Energy inc. and one with out. Does anyone have the original press release. They have been deleted from most links. Thanks Christine
(1)
Business Wire
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Title:ÿOilex Acquires 225 WellsÿSummary:ÿBBS - OLEX) announced today it has
reached an agreement to acquire, from privately owned BT Energy,
Inc., 225 wells situated on 3,000 acres (+/-) in the prolific Luling
Field in Luling, Texas. All wells are productive from the Austin Chaulk
formation at 2500'. With the wells and existing production, comes a
completely staffed and functional field operation; swabbing units;
vehicles; office building; shop and eleven (11) acres of land where the
field operations will be maintained. The estimated remaining in place
reserves on the property are 4 million barrels.
ÿSource:ÿBusiness Wire Date:ÿ19-Jan-1997 01:40 PMRegularÿPrice:ÿ$1.00
SubscriptionÿStatus:ÿNot included in subscriptionDocumentÿSize:ÿShort
(up to 2 pages)Document ID:ÿXX19970808720003003Subject(s):ÿ
CitationÿInformation:ÿAuthor(s):ÿDocumentÿType:ÿArticles & General info;
Press releases
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(2)-
Weekly News Digest
Technology and Business News for the Industry
for the week of February 19th, 1997
Oilex Acquires 225 Wells
HOUSTON - Oilex, Inc., reached an agreement to acquire 225 wells
situated on 3,000 acres, plus or minus, in the prolific Luling field in
Luling, Texas. All wells are productive from the Austin Chalk formation
at 2,500 feet. With the wells and existing production comes a completely
staffed and functional-field operation, swabbing units, vehicles, office
building, shop and 11 acres of land where the field operations will be
maintained. The estimated remaining-in-place reserves on the property
are 4 million barrels.
Oilex's takeover of operations is anticipated for March 15. Oilex will
use portable swabbing units as well as KH-30 compound to enhance
production from the field. The field increases Oilex's total number of
wells to over 600.
Christine |
