The Nicolai Creek Unit (NCU) includes 6 natural gas wells with 2 central production facilities, including compression, dehydration, 3 miles of gathering line and a sales meter station with coalescing filter, ultrasonic flow meters and SCADA. The company is in the process of converting one of its wells to water disposal. Production estimated to at least double with SWD well (Well #10 currently shut in due to water production). Work in progress August, 2020. A gravel pack and/or rig workover will substantially increase production from Well #10. Our natural gas production sells for ~$7/Mcf.
Our firm lacks capital needed to exploit proved and probable reserves; seeking partner or buyer.
Upside potential includes conventional exploitation prospects, two outstanding deeper oil prospects, CBM prospectivity and a gas storage project (Phase I feasibility study completed).
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