U.S. Emerald Energy was able to present the best possible prospect for the Suerte joint venture by conducting thorough research and cherry picking the very best options.
Houston, Texas (PRWEB) September 06, 2014
The Houston-based company U.S. Emerald Energy recently announced that it has begun production of an oil and gas well it had selected for the Magnum Producing, LP #1 Anderson Suerte Joint Venture (SJV). U.S. Emerald Energy has finished drilling and testing the well, which has a total depth of 10,700 feet.
Based on analysis and correspondence from consulting geologist H. Wilson Williams, U.S. Emerald Energy has seven probable zones of oil and gas with condensate for the well. Each zone is at least five feet; the largest is about 17 feet thick. There are four additional zones that could also be very productive, even at less than 5 feet thick. U.S. Emerald Energy firmly believes that every formation in the well, including the oil zone, has a substantial amount of gas. Initial production is showing the well flowing at over ~1000 MCF of gas per day plus ~100 BBLS of oil per day with a dual completion. The well has already produced over 6000 BBLS of oil and 75000 MCF of gas within the first two months of production. Distribution checks will be generated for the duration of the production and distributed on a monthly basis for the life of the well. Suerte JV investors can expect a continued generation of profits for potentially many years on a development well.
U.S. Emerald Energy was able to present the best possible prospect for the Suerte joint venture by conducting thorough research and cherry picking the very best options. The company relies on the latest technology to estimate the Earth's subsurface and pick through hundreds of oil and gas prospects in a search to find the right one. Then the company whittles the number down even further with additional research and analysis. It is a methodology that has made U.S. Emerald Energy one of the most successful companies in the industry.
This announcement regarding the Suerte joint venture well signifies a major step for the joint venture, which U.S. Emerald introduced last year. With joint ventures such as SJV, U.S. Emerald Energy and the client enter a business agreement that nurtures trust between both parties involved. According to the agreement, company and client will share in the profits generated from this well. Moreover, SJV is defined as a separate entity; it is set apart from other business interests that either party might have.
U.S. Emerald Energy is currently working on its third project for the year, the Sunshine JV, set to drill later this year. The Sunshine JV is also a multi-PUD development well utilizing 3D seismic technology, and is very similar to the Suerte JV prospect.
About U.S. Emerald Energy:
Headquartered in Houston, Texas, U.S. Emerald Energy helps people to invest in oil and gas wells through joint ventures. The company is an industry leader in exploitation of proven reserves, with a refined focus on drilling safer developmental wells. Founded in 1992 by current president Michael L.F. Slavin, U.S. Emerald Energy has an A+ rating from the Better Business Bureau and is a long-established and industry leader in oil investment and well prospecting. The company is located at 616 Cypress Creek Parkway, Suite 600, Houston, TX 77090. For more information, U.S. Emerald Energy can be reached at 281-872-9900, or at the toll-free number 1-800-783-9059.