HNR Acquisition Corp Announces Upgrading Satellite Test Stations for Improved Reliability, Operational Efficiencies and Increased Production
HNR Acquisition Corp (NYSE American: HNRA), an independent upstream energy company with oil and gas properties in the Permian Basin, has announced significant upgrades to its satellite test stations and the acquisition of two portable well testing units. These improvements aim to enhance well testing capabilities, operational efficiency, and production.
The upgrades address previously malfunctioning satellite test stations that were limiting accurate well testing. The enhancements enable the operations team to test well performance and troubleshoot issues as they occur. This improved capability allows HNRA to better target wells needing production enhancement and identify maintenance requirements. Additionally, the use of satellite test stations reduces back pressure to central batteries, which can hinder production.
HNR Acquisition Corp (NYSE American: HNRA), un'azienda energetica indipendente con proprietà di petrolio e gas nel Permian Basin, ha annunciato importanti aggiornamenti delle sue stazioni di prova satellitari e l'acquisto di due unità di test portatili per pozzi. Questi miglioramenti mirano a potenziare le capacità di testing dei pozzi, l'efficienza operativa e la produzione.
Gli aggiornamenti affrontano le problematiche delle precedenti stazioni di prova satellitari che limitavano un'accurata valutazione dei pozzi. I miglioramenti consentono al team operativo di testare le prestazioni dei pozzi e risolvere i problemi man mano che si presentano. Questa capacità migliorata consente a HNRA di individuare meglio i pozzi che necessitano di un miglioramento della produzione e di identificare i requisiti di manutenzione. Inoltre, l'utilizzo delle stazioni di prova satellitari riduce la contropressione verso le batterie centralizzate, che possono ostacolare la produzione.
HNR Acquisition Corp (NYSE American: HNRA), una compañía independiente de energía upstream con propiedades de petróleo y gas en el Permian Basin, ha anunciado mejoras significativas en sus estaciones de prueba satelitales y la adquisición de dos unidades portátiles de prueba de pozos. Estas mejoras tienen como objetivo aumentar las capacidades de prueba de pozos, la eficiencia operativa y la producción.
Las mejoras abordan problemas anteriores de las estaciones de prueba satelitales que limitaban una evaluación precisa de los pozos. Las mejoras permiten al equipo de operaciones probar el rendimiento de los pozos y solucionar problemas a medida que ocurren. Esta capacidad mejorada permite a HNRA identificar mejor los pozos que necesitan mejorar la producción e identificar los requisitos de mantenimiento. Además, el uso de estaciones de prueba satelitales reduce la contraprocesión hacia las baterías centrales, lo que puede obstaculizar la producción.
HNR Acquisition Corp (NYSE American: HNRA)는 페르미안 분지에 석유 및 가스 자산을 보유한 독립적인 업스트림 에너지 회사로, 위성 시험소에 대한 중요한 업그레이드와 두 개의 휴대용 유정 시험 장치 구매를 발표했습니다. 이러한 개선은 유정 시험 능력, 운영 효율성 및 생산을 향상시키기 위한 것입니다.
업그레이드는 유정 시험의 정확성을 제한했던 이전의 고장 난 위성 시험소 문제를 해결합니다. 개선된 시스템은 운영 팀이 유정 성능을 시험하고 문제를 해결할 수 있게 합니다. 이러한 향상된 능력은 HNRA가 생산 향상이 필요한 유정을 더 잘 겨냥하고 유지 관리 요구 사항을 식별할 수 있도록 합니다. 또한 위성 시험소의 사용은 중앙 배터리에 대한 역압을 줄여 생산을 방해할 수 있습니다.
HNR Acquisition Corp (NYSE American: HNRA), une société énergétique indépendante upstream avec des propriétés pétrolières et gazières dans le bassin de Permien, a annoncé des mises à niveau significatives de ses stations de test satellite et l'acquisition de deux unités de test de puits portables. Ces améliorations visent à renforcer les capacités de test de puits, l'efficacité opérationnelle et la production.
Les mises à niveau traitent des stations de test par satellite qui dysfonctionnaient auparavant et limitaient la précision des tests de puits. Les améliorations permettent à l'équipe opérationnelle de tester les performances des puits et de résoudre les problèmes à mesure qu'ils surviennent. Cette capacité améliorée permet à HNRA de mieux cibler les puits nécessitant une amélioration de la production et d'identifier les besoins en maintenance. De plus, l'utilisation des stations de test par satellite réduit la contre-pression vers les batteries centrales, ce qui peut entraver la production.
HNR Acquisition Corp (NYSE American: HNRA), ein unabhängiges Upstream-Energieunternehmen mit Öl- und Gasvorkommen im Permian Basin, hat bedeutende Verbesserungen seiner Satellitenteststationen und den Erwerb von zwei tragbaren Testeinheiten für Brunnen angekündigt. Diese Verbesserungen zielen darauf ab, die Brunnenprüfungsfähigkeiten, die Betriebstüchtigkeit und die Produktion zu steigern.
Die Upgrades beheben Probleme mit zuvor ausgefallenen Satellitenteststationen, die eine genaue Brunnenprüfung eingeschränkt haben. Die Verbesserungen ermöglichen es dem Betriebsteam, Brunnenleistungen zu testen und Probleme im Moment ihres Auftretens zu beheben. Diese verbesserte Fähigkeit ermöglicht es HNRA, Brunnen, die eine Produktionssteigerung benötigen, besser zu erkennen und Wartungsanforderungen zu identifizieren. Darüber hinaus reduziert die Nutzung von Satellitenteststationen den Rückdruck auf zentrale Batterien, was die Produktion beeinträchtigen kann.
- Improved well testing capabilities for better production targeting
- Enhanced operational efficiency through upgraded satellite test stations
- Reduced back pressure to central batteries, potentially increasing production
- Acquisition of two portable well testing units for increased flexibility
- None.
HOUSTON, TX / ACCESSWIRE / August 15, 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 key infrastructure improvements and upgrades to the well testing capabilities at the satellite stations and the purchase of two portable well testing units.
The Company has improved and upgraded satellite test stations that were not operating properly, and thus limiting our ability to accurately test wells. The Company also purchased two portable well test units. These enhancements allow the operations team to test well performance and trouble shoot wells as an operating issue occurs
Having more reliable well testing capabilities improves our ability to target and focus on wells needing production enhancement, and identify sources of issues requiring maintenance. The use of the satellite test stations also reduces the back pressure to the central batteries that hinders production.
"The improvements to the satellite test stations and the portable well test units has improved production, enhanced reliability and increased operational efficiency," said Jesse Allen, Vice President of Operations.
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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FAQ
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