Cross Border Resources, Inc. (OTCQX: XBOR), a San Antonio-based oil and gas exploration and production company, today provided an operations update on its two Wolfberry projects in the Permian Basin of West Texas.
The Company and its partners have been successful in limiting water production, with complementary oil production increases, from the first four Wolfberry wells. Initial well results disseminated by the Company indicated low production rates due to excessive water volumes. In early August, prior to remedial changes, the wells averaged 8 barrels of oil per day (bopd) and 266 barrels of water per day (bwpd) overall, or an oil cut of 2.9%. The wells now average 71 bopd and 145 bwpd, with oil cut improving to 32.9%.
Early reports indicated the wells' operator felt there was communication between a water zone and one of the targeted formations that was fractured stimulated, thus contributing to the low oil volumes. Cross Border management and its partners determined it would be necessary to set a temporary bridge plug in each of the wells, at various depths, to determine what specific zone was contributing the excess water.
Source: The Sacramento Bee
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