UPDA Subsidiaries Continue To Increase Oil And Gas Production
Six Additional Wells Brought Online - Catlin Oil and Gas Connects First Well in Historically Prolific Ruth Lease
Juno Beach, FL - Universal Property Development and Acquisition Corporation production subsidiaries, Catlin Oil and Gas, Inc. and Canyon Creek Oil and Gas, Inc., have returned 6 more wells to production as Ambient Wells Services continues its aggressive program to complete the workover of all oil and gas fields in UPDA's current portfolio by the end of the year.
In the Catlin Field, the installation of the second high-pressure natural gas compressor on the south end of the field has allowed Ambient to restore production from the first well located on the historically prolific 240-acre Ruth Lease.
The Ruth Lease has 11 wells that records from the Texas Railroad Commission indicate made over 49,000 mcf gas and 4400 barrels oil in their peak production months. At least two of those wells remain loaded with fluid yet continue to vent gas through the casing and oil is at the surface of another of the wells without lift. Only one of the Ruth wells has been produced in the past several years and the pumping units had been stripped for parts and the pipeline disconnected. As a result of the efforts of Ambient, the first of those wells has now been returned to production and work continues on the remainder.
Ambient has also completed the work on 2 wells on the Dibrell Lease and 2 on the McAnear in the Catlin Field resulting in an increase in pressure on the pipeline and the sale of an additional 60 mcfg/day.
In Archer County, UPDA Operators has commenced production from another well on the Block Estate, resulting in the added generation of 12-18 bo/d for UPDA's Canyon Creek subsidiary. Work also continues to progress on Canyon Creek's wells in Palo Pinto and Coleman Counties. The progress of these projects will be reported by UPDA as it continues to update its website at: www.universalpropertydevelopment.com.
SOURCE: Universal Property Development and Acquisition Corporation