Amazing Energy Continues to Develop Within Permian Lease, Texas
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Amazing Energy Oil and Gas Co. is continuing to develop in the Permian Basin in Pecos County, Texas.
“On March 10th the company spudded the WWJD No. 27 well as the next step in development of this lease. Targeting the Queen Sand, this well is anticipated to reach a TD “total depth” of 2000 feet in the next 20 to 30 days. The company is drilling this well with the company’s own drilling rig. The company acquired Jilpetco, Inc., as an operating subsidiary last year and now controls the entire operation. This should help us with respect to cost control going forward,” said Reese Pinney, chief operating officer of Amazing Energy.
“As a further step to realizing the best return from this reservoir, we are actively evaluating implementation of a water flood, which plan should greatly extend the commercial life of the property,” added Pinney.
“Additional improvements in the field infrastructure include electric service. The Southwest Coop has completed all the overhead electric power for the entire section. We will be able to get all our new wells put on electric pumps now, reducing down time and stabilizing production performance of the wells,” concluded Pinney.
The CEO Jed Miesner is continuing to work with three financial institutions for additional funding. “We continue to pursue available options in this market,” said Jed Miesner, CEO of Amazing Energy.
About Amazing Energy
Amazing Energy Oil and Gas, Co. is an independent oil and gas exploration and production company headquartered in Amarillo, Texas. The company’s primary leasehold is in the Permian Basin of West Texas working within a 70,000 acre leasehold in Pecos County, Texas. The company primarily engages in the exploration, development, production and acquisition of oil and natural gas properties. Amazing Energy’s operations are currently focused in Texas.
To stop by Amazing Energy’s website, CLICK HERE
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