(PRWEB) June 18, 2011
Kevin Boyles CEO of Team Resources Boyles has announced that, “After the positive drilling, testing and witnessing a strong oil presence in the Team Gammon 20-1A well in the Donelson West Field located in Cowley County, Kansas, Team Resources Inc plans further development here of their acreage holdings. One well is currently being drilled, four additional new wells slated for development in the fourth quarter 2011 and four new wells planned for the first quarter of 2012. Team is in the midst of completing the Team Oil Income & Development Fund which proposed the drilling of two new wells and recompletion of eight existing wells for a total of ten wells associated in this fund. Team is implementing Radial Jet Horizontal Technology in the existing and new wells in an effort to extract the oil reserves left behind during the primary production recovery efforts used when the field was initially discovered in 1967. Although this small but mighty 1,200 acre field produced nearly 450,000 BO, it was estimated that the original wells, in a traditional primary oil recovery effort was only able to recovered approximately 20% of the oil in place. Team feels that with the recompletion of the existing wells, the drilling of new wells and using the Radial Jet Horizontal Technology that it will be able to successfully tap far into this reservoir and extract the bulk of these remaining oil reserves.”
Kansas has remained constant in oil production, with an average monthly rate of about 2.8 million barrels (450,000 m3) in 2004. The recent higher prices have made carbon dioxide sequestration and other oil recovery methods increasingly more economical. There are currently 40,850 oil wells in Kansas and 18,639 natural gas wells. Kansas ranks 8th in U.S. oil production, rendering it a lucrative source for domestic energy.
Team Resources, Inc., headquartered in Ventura, California, is an oil and natural gas operating company founded in 2002 by President & CEO Kevin Boyles. Team's current development acreage is located in S.E. Kansas, with field offices located in Yates Center and Burden, Kansas. Team Resources, Inc owns 50% of BC Management Services Corp. (Team's Kansas Production, Operating and Service Company). BCMSC is a "hands on" company presently operating more than 40 wells and Team's 300+ mile natural gas transmission pipeline, thus ensuring delivery of natural gas to market for Team and other area oil / gas producers. BCMSC maintains Team's properties by owning a completion rig, dozers, trenchers and gravel / water trucks that provide the ability to build infrastructures. Team offers the opportunity to speak directly with the owner of the company, we also invite our investing partners to meet us out on location and experience a personal “field trip”.