Canuc Resources Completes Successful Gas Well Workover in the Prolific Oil-Producing Region of West Texas
Canuc Resources (TSXV: CDA) (OTCQB: CNUCF) has successfully completed a repair and workover operation on the Coody-Morales Trac 3-3 natural gas well in Stephens County, West Texas. The well, producing from the Big Saline Formation since 2011, has generated $1.05M USD in gross revenue from an initial investment of $153K USD. After experiencing a production decline in early 2024, the workover has restored output to ~100 MCF/day for June and July 2024.
The company's subsidiary, MidTex Oil and Gas , owns 8 producing natural gas wells in the area with rights for further development. Two additional prospective zones, the Caddo Limestone (oil) and Strawn Sands (gas), have been identified for future production after the Big Saline Formation is depleted.
Canuc Resources (TSXV: CDA) (OTCQB: CNUCF) ha completato con successo un'operazione di riparazione e lavoro sul pozzo di gas naturale Coody-Morales Trac 3-3 nella Contea di Stephens, nel Texas occidentale. Il pozzo, che produce dalla Formazione Big Saline dal 2011, ha generato 1,05 milioni di dollari USA di entrate lorde a fronte di un investimento iniziale di 153.000 dollari USA. Dopo aver subito un calo della produzione all'inizio del 2024, il lavoro di ripristino ha riportato la produzione a ~100 MCF/giorno per i mesi di giugno e luglio 2024.
La sussidiaria dell'azienda, MidTex Oil and Gas , possiede 8 pozzi di gas naturale attivi nella zona con diritti per ulteriore sviluppo. Sono state identificate due ulteriori zone prospettiche, la Formazione Caddo Limestone (petrolio) e Strawn Sands (gas), per la futura produzione dopo il completo sfruttamento della Formazione Big Saline.
Canuc Resources (TSXV: CDA) (OTCQB: CNUCF) ha completado con éxito una operación de reparación y trabajo en el pozo de gas natural Coody-Morales Trac 3-3 en el condado de Stephens, Texas Occidental. El pozo, que produce de la Formación Big Saline desde 2011, ha generado 1,05 millones de dólares estadounidenses en ingresos brutos a partir de una inversión inicial de 153.000 dólares estadounidenses. Tras experimentar un descenso en la producción a principios de 2024, el trabajo ha restablecido la producción a ~100 MCF/día para junio y julio de 2024.
La filial de la empresa, MidTex Oil and Gas , posee 8 pozos de gas natural en la zona con derechos para un mayor desarrollo. Se han identificado dos zonas adicionales prospectivas, la Formación Caddo Limestone (petróleo) y Strawn Sands (gas), para futura producción después de que se agote la Formación Big Saline.
Canuc Resources (TSXV: CDA) (OTCQB: CNUCF)는 텍사스 서부 스티븐스 카운티에 있는 Coody-Morales Trac 3-3 자연 가스 우물의 수리 및 작업을 성공적으로 완료했습니다. 2011년부터 Big Saline Formation에서 생산된 이 우물은 153,000달러의 초기 투자금으로 105만 달러의 총 수익을 창출했습니다. 2024년 초 생산 감소를 겪은 후, 작업으로 인해 2024년 6월과 7월 동안 ~100 MCF/일의 생산량을 회복했습니다.
회사의 자회사인 MidTex Oil and Gas 는 해당 지역에 8개의 생산 중인 자연가스 우물을 소유하고 있으며, 추가 개발 권한을 가지고 있습니다. Big Saline Formation이 고갈된 이후에 생산을 위해 Caddo Limestone (석유)와 Strawn Sands (가스)라는 두 개의 추가 잠재 지역이 확인되었습니다.
Canuc Resources (TSXV: CDA) (OTCQB: CNUCF) a réussi à effectuer avec succès une opération de réparation et de travail sur le puits de gaz naturel Coody-Morales Trac 3-3 dans le comté de Stephens, au Texas occidental. Le puits, en production depuis la Formation Big Saline depuis 2011, a généré 1,05 million de dollars américains de revenus bruts à partir d'un investissement initial de 153 000 dollars américains. Après avoir connu une baisse de la production au début de 2024, le travail de réhabilitation a rétabli la production à ~100 MCF/jour pour juin et juillet 2024.
La filiale de la société, MidTex Oil and Gas , possède 8 puits de gaz naturel en production dans la région avec des droits pour un développement futur. Deux zones prospectives supplémentaires, la Formation Caddo Limestone (pétrole) et Strawn Sands (gaz), ont été identifiées pour une production future après que la Formation Big Saline soit épuisée.
Canuc Resources (TSXV: CDA) (OTCQB: CNUCF) hat erfolgreich eine Reparatur- und Überholungsoperation am Coody-Morales Trac 3-3 Erdgasbrunnen im Stephens County, Westtexas, abgeschlossen. Der Brunnen, der seit 2011 aus der Big Saline Formation produziert, hat 1,05 Millionen US-Dollar an Bruttoeinnahmen aus einer initialen Investition von 153.000 US-Dollar generiert. Nach einem Produktionsrückgang Anfang 2024 hat die Überholung die Produktion im Juni und Juli 2024 wieder auf ~100 MCF/Tag erhöht.
Die Tochtergesellschaft des Unternehmens, MidTex Oil and Gas , besitzt 8 produzierende Erdgasbrunnen in der Region mit Rechten für eine weitere Entwicklung. Zwei zusätzliche potenzielle Zonen, die Caddo Limestone (Öl) und Strawn Sands (Gas) umfassen, wurden für eine zukünftige Produktion nach der Erschöpfung der Big Saline Formation identifiziert.
- Successful workover operation restored natural gas production to ~100 MCF/day
- Coody-Morales Trac 3-3 well has generated $1.05M USD in gross revenue from $153K USD investment
- Low decline rates observed in the Big Saline Formation production
- Two additional prospective hydrocarbon zones identified for future production
- Company holds interests in 8 producing wells with rights for further in-field developments
- Production decline experienced in early 2024 necessitating workover operation
Toronto, Ontario--(Newsfile Corp. - August 13, 2024) - Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) ("Canuc" or the "Company") is pleased to announce completion of a previously reported repair and workover operation. The successful workover operation was undertaken on the natural gas producing Coody-Morales Trac 3-3 well held by the Company's
The Big Saline Formation is a natural gas bearing zone which is located at approximately 3,700-feet true vertical depth ("TVD") in the Company's operating natural gas wells. The Company's Coody-Morales Trac 3-3 well has been producing from the Big Saline for more than 13 years. The well was drilled in 2011, with a drilling and completion cost of
In early 2024 the Coody-Morales Trac 3-3 well evidenced a decline in natural gas production from the Big Saline Formation. The Company's West Texas based operator concluded that tubing wear and calcification had contributed to the decline in natural gas production, and that a well repair and workover program might return the well to long term natural gas production averages. A successful workover has now been completed and the well has returned to production averaging ~100 MCF/day of natural gas for the months of June and July 2024.
Logs for the Company's Coody-Morales Trac 3-3 well indicate that above the Big Saline Formation there are two additional hydrocarbon zones which are prospective for production. The Caddo Limestone is a potential oil-bearing zone located at approximately 3,200' TVD and the Strawn Sands is a potential gas-bearing zone located at approximately 1,700' TVD.
The Company expects to move up hole to complete and test both the Caddo Limestone (oil) and the Strawn Sands (natural gas) respectively at some point in the future, after economic depletion of the Big Saline Formation.
"The Big Saline Formation in the Coody-Morales Trac 3-3 well has been producing cash flow for the company since 2011 and has paid out several times over the drilling and completion costs of the well. The workover has now successfully increased natural gas production for the well. We expect to continue producing the Big Saline Formation until it is depleted. Above this zone, and behind pipe, are two further zones which are prospective for hydrocarbon production, the Caddo Limestone (oil-bearing zone) and the Strawn Sands (natural gas-bearing zone). The company has interests in a total of 8 producing wells in Stephens County, West Texas and also holds rights for further in field developments," stated Christopher Berlet, President & CEO of Canuc.
"In developing the company's cash flow from our MidTex energy project in West Texas, we seek to protect shareholders from unnecessary dilution and to benefit from advancement of competitive USA based energy assets."
This press release has been reviewed and approved by Chris Cheng, P. Eng, director and QP for the Company.
About Canuc
Canuc is a junior resource company focusing on its San Javier Silver-Gold Project in Sonora State, Mexico. The Company also generates cash flow from natural gas production at its MidTex Energy Project in Central West Texas, USA where Canuc has an interest in eight (8) producing natural gas wells and has rights for further in field developments.
For further information please contact:
Canuc Resources Corporation.
(416) 525 - 6869
cberlet@canucresources.ca
Forward-Looking Information
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FAQ
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