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By the addition of approximately 700 active wells that are producing in the Cotton Valley formation, a conventional oil and gas field, the acquisition will result in a significant and immediate increase in production.
EPCTWID provides water service to Tornillo through the operation of two active wells in the Hueco Bolson Aquifer and has a third well for contingencies.
Currently, Alliance has 17 active wells at Kolva, with average well flows of 1,200-1,500 bpd and aims to add seven more by the year-end.
5 million barrels of crude oil and 44 million cubic meters of natural gas from 9,842 active wells of which 852 are offshore, according to the company.
``Many other properties are above the oil field but didn't have active wells and pipelines.
With only 16 active wells on that site, there could be another.
There are currently a number of active wells that have been reworked and are being pumped, each producing varying amounts of oil.
This project would replace the main, piping and valves to the active wells.