HNR Acquisition Corp Increases Electrical Capacity and Improves Reliability with Electrical Upgrades
HNR Acquisition Corp (NYSE American:HNRA), an independent upstream energy company with oil and gas properties in the Permian Basin, has announced key infrastructure improvements and electrical system upgrades. These enhancements aim to increase capacity for current needs and future growth, as well as improve overall system reliability.
The upgrades focus on the Russell Turner Water Station, which previously had low capacity and unreliable performance. The improvements include:
- Replacing and upgrading the transformer, doubling current capacity
- Upgrading lightning protection to minimize storm impacts
- Upgrading the horizontal pump used for water injection
These upgrades are expected to enhance waterflood operations, improve production in affected areas, and support future development without electrical limitations.
HNR Acquisition Corp (NYSE American:HNRA), una società energetica indipendente con proprietà di petrolio e gas nel bacino Permiano, ha annunciato miglioramenti chiave delle infrastrutture e aggiornamenti del sistema elettrico. Questi miglioramenti mirano a aumentare la capacità per le esigenze attuali e la crescita futura, oltre a migliorare l'affidabilità complessiva del sistema.
Gli aggiornamenti si concentrano sulla Stazione Idrica Russell Turner, che in precedenza aveva una capacità limitata e prestazioni inaffidabili. I miglioramenti includono:
- Sostituzione e aggiornamento del trasformatore, raddoppiando la capacità attuale
- Aggiornamento della protezione contro i fulmini per ridurre al minimo gli impatti delle tempeste
- Aggiornamento della pompa orizzontale utilizzata per l'iniezione di acqua
Questi aggiornamenti si prevede migliorino le operazioni di iniezione d'acqua, aumentino la produzione nelle aree interessate e supportino lo sviluppo futuro senza limitazioni elettriche.
HNR Acquisition Corp (NYSE American:HNRA), una compañía energética independiente con propiedades de petróleo y gas en la Cuenca Pérmica, ha anunciado mejoras clave en la infraestructura y actualizaciones del sistema eléctrico. Estas mejoras tienen como objetivo aumentar la capacidad para las necesidades actuales y el crecimiento futuro, así como mejorar la fiabilidad general del sistema.
Las actualizaciones se centran en la Estación de Agua Russell Turner, que anteriormente tenía baja capacidad y un rendimiento poco fiable. Las mejoras incluyen:
- Reemplazo y actualización del transformador, duplicando la capacidad actual
- Actualización de la protección contra rayos para minimizar los impactos de las tormentas
- Actualización de la bomba horizontal utilizada para la inyección de agua
Se espera que estas actualizaciones mejoren las operaciones de inundación de agua, aumenten la producción en las áreas afectadas y apoyen el desarrollo futuro sin limitaciones eléctricas.
HNR Acquisition Corp (NYSE American:HNRA), 펌프 계통의 석유 및 가스 자산을 가진 독립적인 업스트림 에너지 회사가 주요 인프라 개선 및 전기 시스템 업그레이드를 발표했습니다. 이러한 향상은 현재의 필요와 미래 성장을 위한 용량 증가를 목표로 하며, 시스템 전반의 신뢰성 향상도 함께 합니다.
업그레이드는 이전에 낮은 용량과 불안정한 성능을 보였던 러셀 터너 수처리 시설에 중점을 둡니다. 개선 사항은 다음과 같습니다:
- 변압기를 교체하고 업그레이드하여 현재 용량을 두 배로 늘리기
- 폭풍 영향을 최소화하기 위해 번개 보호 장치 업그레이드
- 물 주입에 사용되는 수평 펌프 업그레이드
이러한 업그레이드는 물 홍수 작업을 향상시키고, 영향을 받는 지역의 생산성을 높이며, 전기 제한 없이 향후 개발을 지원할 것으로 예상됩니다.
HNR Acquisition Corp (NYSE American:HNRA), une entreprise énergétique indépendante possédant des propriétés pétrolières et gazières dans le bassin permien, a annoncé des améliorations clés de l'infrastructure et des mises à niveau du système électrique. Ces améliorations visent à augmenter la capacité pour les besoins actuels et la croissance future, ainsi qu'à améliorer la fiabilité globale du système.
Les mises à niveau se concentrent sur la station d'eau Russell Turner, qui avait auparavant une capacité faible et des performances peu fiables. Les améliorations comprennent :
- Remplacement et mise à niveau du transformateur, doublant la capacité actuelle
- Mise à niveau de la protection contre la foudre pour minimiser les impacts des tempêtes
- Mise à niveau de la pompe horizontale utilisée pour l'injection d'eau
Ces mises à niveau devraient améliorer les opérations d'inondation d'eau, augmenter la production dans les zones touchées et soutenir le développement futur sans limitations électriques.
HNR Acquisition Corp (NYSE American:HNRA), ein unabhängiges upstream Energieunternehmen mit Öl- und Gasressourcen im Permian-Becken, hat wesentliche Infrastrukturverbesserungen und Aktualisierungen des elektrischen Systems angekündigt. Diese Verbesserungen zielen darauf ab, die Kapazität für aktuelle Bedürfnisse und zukünftiges Wachstum zu erhöhen sowie die allgemeine Zuverlässigkeit des Systems zu verbessern.
Die Aktualisierungen konzentrieren sich auf die Russell Turner Wasserstation, die zuvor niedrige Kapazität und unzuverlässige Leistung hatte. Die Verbesserungen umfassen:
- Ersetzen und Aktualisieren des Transformators, um die aktuelle Kapazität zu verdoppeln
- Aktualisierung des Blitzschutzes, um Sturmschäden zu minimieren
- Aktualisierung der horizontalen Pumpe, die für die Wasserinjektion verwendet wird
Diese Aktualisierungen werden voraussichtlich die Wasserflutoperationen verbessern, die Produktion in den betroffenen Gebieten erhöhen und die zukünftige Entwicklung ohne elektrische Einschränkungen unterstützen.
- Doubling of electrical capacity to support current needs and future growth
- Improved reliability and consistency of operations expected to result in increased production
- Enhanced waterflood operations through upgraded horizontal pump
- Reduced downtime from storms and other occurrences
- Removal of electrical limitations for future property development and production growth
- 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 electrical systems that will increase capacity for current needs and future growth, and enhance reliability of overall system which will provide consistency in performance and production.
The field has three water stations to service the major sections of the water flood operations. The Russell Turner Water Station had low capacity and unreliable performance. The Company has assessed the electrical system and is in process of making upgrades of:
Replacing and upgrading the transformer to a new reliable transformer. The replacement transformer will double the current capacity, which will satisfy current needs and provide capacity for our growth and expansion plans. The improvements will provide a constant electrical output and service which is better suited for all the downstream electronics, and minimize downtime caused by storms and other occurrences.
Upgrading the lightning protection to minimize impacts of storms and protect the electrical equipment on the system
Upgrading the horizonal pump, which is used to inject water, will greatly enhance our waterflood operations. The pump and related electronics have damage from past storms and issues. Accordingly, we are replacing with an upgraded horizonal pump and related electronics.
"The electrical upgrades and improvements will greatly improve reliability and consistency of our operations, which will result in improved production in the areas affected by the conditions of the electrical systems," said Jesse Allen, Vice President of Operations. "Having the expanded electrical capacity will allow us to develop the property and grow production without electrical limitations."
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
View the original press release on accesswire.com
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