Force Fuels, Inc. has completed the refurbishment of 10 existing oil wells that have been shut down for several years on a property in Montgomery County, Kansas.
The company said that with oil production numbers as anticipated, it expects to open a further 10 wells within the next 15 days.
The wells are located within Force’s 13 leases covering 2,600 acres across Chautauqua and Montgomery counties on the southern end of Kansas, a well-known oil and gas producing area containing a number of prolific reservoirs. The leases contain a total of 54 wells and all the necessary equipment to commence production, including five salt water disposal wells and gas pipes.
The company has said that estimated recoverable reserves from the property could be in excess of 11 million barrels.
Force is planning to develop the leases via a three-pronged strategy, which includes rehabilitation of existing assets, the drilling of new wells and stimulation of marginally producing wells.
Commenting on the announcement, Thomas Hemingway, president and CEO of Force, said: "We are very excited about the results that we have achieved on these wells. Currently our goals are to open as many wells as we can prior to drilling new wells, to date we have announced reopening of 25 existing wells.”
Force is also hoping to increase oil production on its joint venture signed in March 2011 on 1,200 acres of Pioneer Oil's Oklahoma properties.
Headquartered in Newport Beach, southern California, with offices and oil field operations in Kansas, Force Fuels was created to acquire underperforming leaseholds in prolific oil and gas producing regions of the US that have marginally producing shallow oil wells on-site and offer potential for further drilling opportunities.
Force also invests in renewable energy development projects in the wind and solar sectors.
