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Force Fuels reopens oil wells in Kansas
1 June 2011: Force Fuels, Inc has completed the reopening of 10 existing oil wells that have been shut down for several years on properties located in Montgomery County, Kansas. Production numbers are estimated from 1 bpd to 6 bpd.
With the cost of a barrel of oil stabilizing around the $100 price each well produces from $3000 per month on the lower producing wells to $18,000 per month on the stimulated wells. These are wells that are currently drilled and placed in a state of non-production. Force Fuels has entered into a new and exciting market by reopening these wells and defining a market for the small to medium sized oil companies. Thousands of Pump Jacks exist in shallow wells throughout Kansas and Oklahoma. These wells have joined a way to supply oil to the United States, utilizing existing infrastructures.
The initial oil production numbers from the wells have been as the Company has anticipated. With these types of numbers we expect another 10 wells being reopened in the next 30 days.
The leases are in Chautauqua and Montgomery County on the southern end of Kansas, a well-known oil and gas producing area where several prolific reservoirs are present. Comprising over 2,600 acres, the leases are fully equipped with 54 wells and all the necessary equipment to commence production. In addition Force Fuels is aimed at increasing oil production on the JV signed in March 2011 on 1200 acre of Pioneer Oil's Oklahoma properties.
Source: PRNewswire