Foothills intends to start a return-to-production programme, which includes wellhead reconnection, facility maintenance, electrical work, and flowline repair work, to produce gas from 139 wells in Craig and Nowata counties, Oklahoma
Foothills Exploration to commence works on 545 wells acquired in Kansas and Oklahoma. (Credit: Mihai on Unsplash)
US-based oil and gas company Foothills Exploration has unveiled its plans to start works on hundreds of its recently acquired leases and wells in Kansas and Oklahoma, US.
Last month, the company completed the acquisition of Jubilee Exploration, an Oklahoma-based limited liability company.
Jubilee owns five 545 shut-in or stranded oil and gas wells, located on multiple leases in north-eastern Oklahoma and south-eastern Kansas.
Foothills Exploration intends to immediately start a return to production programme focused on gas production of 139 wells located in Craig and Nowata counties, Oklahoma.
The return-to-production programme will include wellhead reconnection, facility maintenance, electrical work, and flowline repair work.
Foothills executive chairman Kevin J Sylla said: “Our natural gas-focused strategy is based on having economical, long-lived reserve assets in established basins to serve a growing nationwide demand for clean, affordable and abundant natural gas.
“This acquisition enhances our well inventory and overall position in the US midcontinent and is complementary to our current footprint.”
The acquisition provides Foothills with an inventory of multi-year wells that has the potential to increase its production and reserve profile.
The works under the programme are expected to deliver collective production rates of between 1.5 and 2.5 million cubic feet (MMCF) of gas per day for these wells.
According to the oil and gas firm, the natural gas production from all the acquired wells can be about 5MMCF to 8MMCF per day, within the first two years of production.
In addition, the company plans to bring the 14 Jubilee-owned oil wells in Jackson and Garvin counties, Oklahoma, to production.
The Garvin County properties include three drilled uncompleted wells, which are currently the subject of litigation proceedings, yet to be settled by the parties.
The company intends to produce 30-40 barrels of oil per day from the properties.