(PRWEB) September 16, 2012
As part of the company’s new platform, they are working hard to invest in the infrastructure that is required to extract petroleum and natural gas from many of Texas’ oil fields. Southern Texas is just one of the locations that XL Hydrocarbon Assets is investing in and the site has tremendous potential. More than 300,000 barrels of oil have already been pumped from exploratory wells and there are no known issues of sand or water production in the area.
Studies suggest that several millions barrels of petroleum reserves are found in this location, but accessing it is a key issue. The XL approach relies on a different type of well to reach the wealth that is hidden deep in the surface. The new wells in the area need to be drilled vertically and incredibly deep. In addition, the wells are distinguishable by the fact that they produce petroleum and natural gas. The oil is hard to reach, but after it has been accessed the flow is easy to maintain. The wells are usually around two-miles-deep and under a pressure of about 6000 psi. The high pressure allows the oil to flow readily and greatly reduces maintenance expenses.
XL Hydrocarbon Assets is aggressively pursuing a stable petroleum program that requires a number of new wells. Each well costs nearly $4 million to drill, but there are no completion costs. Future projects are slated to provide returns of up to 500 multiples on the dollar. XL Hydrocarbon Assets foresees future projects requiring up to $15 million per well, but the amount of return is expected to pay for the efforts many times over. The oil fields have been fully evaluated by a source in a respected firm that deals primarily with assessing oil reserves and experts in geology. There are more than 200 pages of data available on the location of the new wells.
XL Hydrocarbon Assets offers investors a number of benefits, and the company has drafted a comprehensive approach to help reduce petroleum shortages, provide Americans with rewarding jobs and address the issue of rising petroleum costs. When the new wells are drilled, the overall global supply will rise which should lead to lower prices at the pump. Because the oil is located in Texas, it is a steady supply that is not threatened by political instability. Extraction of oil from the wells will provide enormous returns to partners and bring reliable energy to gas pumps and home heating systems.
The formation has been fully evaluated and the new wells will come at the right time and aid in the issues of high gas prices and political instability in oil-producing regions.