HNR Acquisition Corp Announces Purchase of a Hot Oiler Truck and Rig
HNR Acquisition Corp (NYSE American:HNRA), an independent upstream energy company with oil and gas properties in the Permian Basin, has announced the purchase of a hot oiler truck and rig for $130,000. This acquisition aims to enhance field team flexibility and reduce costs. The equipment will be used for various essential tasks, including routine load tests, unplugging flowlines, treating producing wells, and performing pressure tests.
Jesse Allen, Vice President of Operations, highlighted that the company's oil field requires almost daily use of such equipment due to paraffin and sand blockage. By owning this equipment, HNRA expects to reduce downtime and save at least 33% on costs compared to using third-party subcontractors, which currently cost approximately $30,000 per month.
HNR Acquisition Corp (NYSE American:HNRA), un'azienda indipendente del settore energetico upstream con proprietà di petrolio e gas nel Bacino Permiano, ha annunciato l'acquisto di un camion hot oiler e di un impianto per 130.000 dollari. Questa acquisizione ha lo scopo di migliorare la flessibilità del team sul campo e ridurre i costi. Le attrezzature saranno utilizzate per vari compiti essenziali, tra cui test di carico di routine, rimozione di ostruzioni nelle tubazioni, trattamento dei pozzi produttivi e esecuzione di test di pressione.
Jesse Allen, Vice Presidente delle Operazioni, ha sottolineato che il campo petrolifero dell'azienda richiede quasi un utilizzo quotidiano di tali attrezzature a causa di ostruzioni da paraffina e sabbia. Possedendo queste attrezzature, HNRA si aspetta di ridurre i tempi di inattività e risparmiare almeno il 33% sui costi rispetto all'uso di subappaltatori, che attualmente costano circa 30.000 dollari al mese.
HNR Acquisition Corp (NYSE American:HNRA), una compañía independiente de energía upstream con propiedades de petróleo y gas en la Cuenca Pérmica, ha anunciado la compra de un camión hot oiler y una plataforma por 130,000 dólares. Esta adquisición pretende mejorar la flexibilidad del equipo de campo y reducir costos. El equipo se usará para varias tareas esenciales, incluyendo pruebas de carga rutinarias, desbloqueo de líneas de flujo, tratamiento de pozos productivos y realización de pruebas de presión.
Jesse Allen, Vicepresidente de Operaciones, destacó que el campo petrolero de la compañía requiere el uso casi diario de este tipo de equipo debido a bloqueos por parafina y arena. Al poseer este equipo, HNRA espera reducir el tiempo de inactividad y ahorrar al menos un 33% en costos en comparación con el uso de subcontratistas, que actualmente cuestan aproximadamente 30,000 dólares al mes.
HNR 인수 공사 (NYSE American:HNRA)는 퍼미안 분지에 석유 및 가스 자산을 보유한 독립적인 업스트림 에너지 회사로, 130,000 달러에 핫 오일러 트럭과 장비를 구매했다고 발표했습니다. 이 인수는 현장 팀의 유연성을 향상시키고 비용을 절감하는 것을 목표로 합니다. 이 장비는 정기적인 하중 테스트, 유선의 막힘 제거, 생산하는 유정 처리, 압력 테스트 수행 등 여러 필수 작업에 사용됩니다.
Jesse Allen 운영 부사장은 회사의 유전이 패라핀과 모래로 인한 차단으로 인해 거의 매일 이러한 장비를 필요로 한다고 강조했습니다. 이 장비를 소유함으로써 HNRA는 작업 중단 시간을 줄이고 현재 약 30,000 달러의 월 비용에 비해 최소 33% 절감할 것으로 기대하고 있습니다.
HNR Acquisition Corp (NYSE American:HNRA), une société indépendante d'énergie upstream avec des propriétés pétrolières et gazières dans le bassin permien, a annoncé l'achat d'un camion hot oiler et d'une plateforme pour 130 000 dollars. Cette acquisition a pour but d'améliorer la flexibilité de l'équipe de terrain et de réduire les coûts. L'équipement sera utilisé pour diverses tâches essentielles, y compris tests de charge de routine, débouchage de lignes de flux, traitement des puits producteurs et réalisation de tests de pression.
Jesse Allen, vice-président des opérations, a souligné que le champ pétrolier de l'entreprise nécessite l'utilisation de cet équipement presque quotidiennement en raison de blocages de paraffine et de sable. En possédant cet équipement, HNRA s'attend à réduire les temps d'arrêt et à économiser au moins 33 % sur les coûts par rapport à l'utilisation de sous-traitants, qui coûtent actuellement environ 30 000 dollars par mois.
HNR Acquisition Corp (NYSE American:HNRA), ein unabhängiges Upstream-Energieunternehmen mit Öl- und Gasvorkommen im Permian-Becken, hat den Kauf eines Hot-Oiler-Trucks und einer Anlage für 130.000 US-Dollar angekündigt. Diese Akquisition zielt darauf ab, die Flexibilität des Feldteams zu erhöhen und Kosten zu senken. Die Ausrüstung wird für verschiedene wesentliche Aufgaben eingesetzt, darunter routinemäßige Lasttests, Entblockierung von Fließleitungen, Behandlung von Produzentenbrunnen und Durchführung von Drucktests.
Jesse Allen, Vizepräsident der Operationen, betonte, dass das Ölfeld des Unternehmens fast täglich den Einsatz solcher Ausrüstung erfordert, bedingt durch Blockaden durch Paraffin und Sand. Durch den Besitz dieser Ausrüstung erwartet HNRA, Ausfallzeiten zu reduzieren und mindestens 33% der Kosten im Vergleich zum Einsatz von Drittanbietern zu sparen, die aktuell etwa 30.000 US-Dollar pro Monat kosten.
- Purchase of hot oiler truck and rig for $130,000 to enhance operational efficiency
- Expected cost savings of at least 33% compared to using third-party subcontractors
- Reduction in downtime due to on-site availability of essential equipment
- Increased flexibility and responsiveness in field operations
- Initial capital expenditure of $130,000 for equipment purchase
The acquisition of a hot oiler truck and rig by HNR Acquisition Corp (HNRA) represents a strategic move to enhance operational efficiency and reduce costs. This $130,000 investment is expected to yield significant savings, with the company projecting at least a
Currently, HNRA spends approximately
From a financial perspective, this move aligns with cost-optimization strategies often employed by upstream energy companies to improve their bottom line. By bringing this critical function in-house, HNRA not only reduces direct costs but also gains operational flexibility, which could lead to improved production efficiency and potentially higher revenues.
However, investors should consider the additional operational responsibilities and potential maintenance costs that come with owning equipment. The true financial impact will depend on HNRA's ability to effectively manage and utilize this new asset. Overall, this investment appears to be a prudent financial decision that could positively impact the company's operational expenses and, by extension, its profitability in the medium to long term.
The acquisition of a hot oiler truck and rig by HNRA is a significant operational move that addresses several critical aspects of oil field management. This equipment is essential for maintaining production efficiency in the Permian Basin, where paraffin and sand blockages are common issues.
The versatility of the hot oiler truck and rig is noteworthy. It can perform routine load tests, unplug flowlines, treat wells with production chemicals, conduct pressure tests and manage 'bad oil' in production tanks. This multi-functionality enhances the overall operational capabilities of HNRA's field team.
A key advantage is the reduction in downtime. With the equipment on-site, HNRA can respond quickly to issues, potentially minimizing production losses. This is particularly important in the oil and gas industry, where every hour of downtime can result in significant revenue loss.
Moreover, the ability to perform these operations in-house provides greater control over the quality and timing of maintenance activities. This could lead to more proactive management of well issues, potentially extending the life of wells and improving overall field productivity.
While the immediate benefits are clear, it's important to consider the long-term implications. HNRA will need to ensure proper training for their field team and implement robust maintenance schedules for the new equipment. The success of this investment will largely depend on how effectively HNRA integrates this new capability into their existing operations.
HOUSTON, TX / ACCESSWIRE / August 1, 2024 / HNR Acquisition Corp (NYSE American:HNRA) (the "Company" or "HNRA") is an independent upstream energy company with oil and gas properties in the Permian Basin. Today, the Company announces the purchase of a hot oiler truck and rig that adds flexibility for the field team and reduces costs.
A hot oiler truck and rig is used to (i) perform routine load and tests of pumping wells, (ii) unplug flowlines due to paraffin and sand, (iii) treat producing wells with production chemicals as needed, (iv) perform pressure tests throughout the field area, and (v) treat production tanks as needed due to "bad oil". The cost to HNRA of the hot oiler truck and rig is
"Our oil field has wells and thousands of feet of flowlines which need to be unplugged to maintain production on an ongoing basis due to paraffin and sand blockage. The need for a hot oiler and rig is almost daily," said Jesse Allen, the Vice President of Operations. "Having a hot oiler and rig on location mitigates downtime due to plugged flowlines. We are currently spending approximately
"We have a field team that can operate the hot oiler truck and rig. Owning and operating a hot oiler truck and rig versus using a third-party subcontractor where the closest subcontractor is at least an hour away, and not always available, gives flexibility to the field team. Owning this hot oiler and rig gives us the ability to quickly respond to needs and use for other applications which will also save field costs," continued Jesse Allen.
About the Oil Field Property
In November 2023, the Company acquired LH Operating, LLC ("LHO") including its holdings in New Mexico of oil and gas waterflood production comprising 13,700 contiguous leasehold acres, 342 producing wells and 207 injection wells situated on 20 federal and 3 state leases in the Grayburg-Jackson Oil Field. The Grayburg-Jackson Oil Field is located on the Northwest Shelf of the prolific Permian Basin in Eddy County, New Mexico.
Leasehold rights of LHO, now a wholly owned subsidiary of the Company, include the Seven Rivers, Queen, Grayburg and San Andres intervals that range from as shallow as 1,500 feet to 4,000 feet in depth. The December 2023 reserve report from our third-party engineer, William H. Cobb and Associates, Inc. ("Cobb"), reflects LHO to have proven reserves of approximately 15.4 million barrels of oil and 3.5 billion cubic feet of natural gas. The mapped original-oil-in-place ("OOIP") in the LHO leasehold is approximately 876 million barrels of oil in the Grayburg and San Andres intervals and 80 million barrels in the Seven Rivers interval for a total OOIP of approximately 956,000,000 barrels of oil.
Our primary production is currently from the Seven Rivers zone. In addition to proven reserves, the Company believes we may access an additional 34 million barrels of oil by adding perforations in the Grayburg and San Andres formations. With proven oil reserves of over 15 million barrels, combined with the potential 34 million additional barrels from the Grayburg and San Andres zones, LHO should produce oil and a revenue stream for more than two decades with a slow decline rate.
About HNR Acquisition Corp
HNRA is an independent upstream energy company focused on maximizing total returns to its shareholders through the development of onshore oil and natural gas properties in the United States. HNRA's long-term goal is to maximize total shareholder value from a diversified portfolio of long-life oil and natural gas properties built through acquisition and through selective development, production enhancement, and other exploitation efforts on its oil and natural gas properties.
HNRA's Class A Common Stock trades on the NYSE American (NYSE American: HNRA) and our public warrants trade on the NYSE American (NYSE American: HNRAW). For more information on HNRA, please visit the Company's website: https://www.hnra-nyse.com/
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as "expects," "believes," "anticipates," "intends," "estimates," "seeks," "may," "might," "plan," "possible," "should" and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect the Company's management's current beliefs. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements. Important factors - including the availability of funds, the results of financing efforts and the risks relating to our business - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on EDGAR (see www.edgar-online.com) and with the Securities and Exchange Commission (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Investor Relations
Michael J. Porter, President
PORTER, LEVAY & ROSE, INC.
mike@plrinvest.com
SOURCE: HNR Acquisition Corp
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