Laredo Oil Gains Access to Salt-Water Disposal Wells
Laredo Oil (OTC Pink Sheets: LRDC) announces a significant development through its subsidiary, Lustre Oil Company. The company has acquired the Cranston salt-water disposal (SWD) well and two additional shut-in wells for conversion into SWD wells in Valley County, Montana. This strategic move enables Laredo Oil and its partner Texakoma Exploration & Production Company to economically dispose of salt-water from recently drilled wells.
The acquisition allows Laredo Oil to begin production at the Reddig 11-21 well in the Midfork field and provides SWD access for three wells in the Lustre field. Additionally, it enables the dewatering and production of the previously shut-in Olfert 11-4 well. This development removes a significant obstacle to ramping up field production and supports future drilling programs for both Laredo Oil and Texakoma.
Laredo Oil (OTC Pink Sheets: LRDC) annuncia uno sviluppo significativo attraverso la sua controllata, Lustre Oil Company. L'azienda ha acquisito il pozzo di smaltimento dell'acqua salata (SWD) di Cranston e due ulteriori pozzi fuori servizio da convertire in pozzi SWD nella contea di Valley, Montana. Questa mossa strategica consente a Laredo Oil e al suo partner Texakoma Exploration & Production Company di smaltire economicamente l'acqua salata dai pozzi recentemente perforati.
L'acquisizione permette a Laredo Oil di iniziare la produzione presso il pozzo Reddig 11-21 nel campo di Midfork e fornisce accesso SWD per tre pozzi nel campo di Lustre. Inoltre, consente il dewatering e la produzione del precedente pozzo Olfert 11-4 che era fuori servizio. Questo sviluppo rimuove un ostacolo significativo per aumentare la produzione del campo e sostiene programmi di perforazione futuri sia per Laredo Oil che per Texakoma.
Laredo Oil (OTC Pink Sheets: LRDC) anuncia un desarrollo significativo a través de su subsidiaria, Lustre Oil Company. La compañía ha adquirido el pozo de disposición de agua salada (SWD) de Cranston y otros dos pozos cerrados para su conversión en pozos SWD en el condado de Valley, Montana. Este movimiento estratégico permite a Laredo Oil y a su socio Texakoma Exploration & Production Company eliminar económicamente el agua salada de los pozos recientemente perforados.
La adquisición permite a Laredo Oil comenzar la producción en el pozo Reddig 11-21 en el campo de Midfork y proporciona acceso SWD para tres pozos en el campo de Lustre. Además, permite el desagüe y la producción del anterior pozo Olfert 11-4 que estaba cerrado. Este desarrollo elimina un obstáculo significativo para aumentar la producción del campo y apoya los futuros programas de perforación tanto para Laredo Oil como para Texakoma.
라레도 오일(Laredo Oil)(OTC 핑크 시트: LRDC)은 자회사인 Lustre Oil Company를 통해 중요한 발전을 발표합니다. 이 회사는 크랜스턴 염수 처리(WSD) 우물을 인수했습니다 그리고 두 개의 추가 폐쇄 우물을 SWD 우물로 전환하기 위해 인수했습니다. 이 전략적 움직임은 라레도 오일과 파트너인 텍사코마 탐사 및 생산 회사가 최근에 시추된 우물에서 염수를 경제적으로 처리할 수 있게 해줍니다.
이번 인수는 라레도 오일이 미드포크(Midfork) 기름밭의 레디그 11-21 우물에서 생산을 시작할 수 있게 하고, Lustre 기름밭의 세 개 우물에 대한 SWD 접근을 제공합니다. 또한, 이전의 폐쇄된 올퍼트 11-4 우물의 배수 및 생산이 가능합니다. 이 발전은 기름밭 생산을 증가시키는 데 있어 중요한 장애물을 제거하고 라레도 오일과 텍사코마 모두에게 향후 시추 프로그램을 지원합니다.
Laredo Oil (OTC Pink Sheets: LRDC) annonce un développement significatif via sa filiale, Lustre Oil Company. L'entreprise a acquis le puits d'élimination des eaux salées (SWD) de Cranston et deux puits fermés supplémentaires pour leur conversion en puits SWD dans le comté de Valley, Montana. Ce mouvement stratégique permet à Laredo Oil et à son partenaire Texakoma Exploration & Production Company de mettre en décharge économiquement l'eau salée des puits récemment forés.
L'acquisition permet à Laredo Oil de démarrer la production au puits Reddig 11-21 dans le champ de Midfork et fournit un accès SWD pour trois puits dans le champ de Lustre. De plus, cela permet le vidage et la production de l'ancien puits Olfert 11-4 qui était fermé. Ce développement supprime un obstacle important à l'augmentation de la production sur le terrain et soutient les programmes de forage futurs tant pour Laredo Oil que pour Texakoma.
Laredo Oil (OTC Pink Sheets: LRDC) kündigt eine bedeutende Entwicklung über ihre Tochtergesellschaft, die Lustre Oil Company, an. Das Unternehmen hat den Cranston-Salzwasser-Entsorgungsbrunnen (SWD) erworben und zwei zusätzliche stillgelegte Brunnen zur Umwandlung in SWD-Brunnen im Valley County, Montana. Dieser strategische Schritt ermöglicht es Laredo Oil und ihrem Partner Texakoma Exploration & Production Company, Salzwasser wirtschaftlich zu entsorgen von neu gebohrten Brunnen.
Durch die Akquisition kann Laredo Oil die Produktion beim Reddig 11-21-Brunnen im Midfork-Feld aufnehmen und bietet SWD-Zugang zu drei Brunnen im Lustre-Feld. Darüber hinaus ermöglicht sie das Entwässern und die Produktion des zuvor stillgelegten Olfert 11-4-Brunnens. Diese Entwicklung beseitigt ein erhebliches Hindernis für die Steigerung der Produktionsmenge im Feld und unterstützt zukünftige Bohrprogramme sowohl für Laredo Oil als auch für Texakoma.
- Acquisition of Cranston SWD well and two additional wells for conversion
- Enables economical salt-water disposal for recently drilled wells
- Allows production to begin at Reddig 11-21 well in Midfork field
- Provides SWD access for three wells in Lustre field
- Enables dewatering and production of previously shut-in Olfert 11-4 well
- Removes significant obstacle to ramping up field production
- Supports future drilling programs for Laredo Oil and partner Texakoma
- None.
According to Mark See, Chairman and CEO of Laredo Oil, "Gaining access to the Cranston SWD well provides
About Laredo Oil Inc.
Laredo Oil, Inc. (www.laredo-oil.com) is an oil exploration and production company primarily engaged in acquisition and exploration efforts for mineral properties. In addition to pursuing conventional oil recovery methods in selected oil fields, Laredo Oil plans to locate and acquire mature oil fields, with the intention of recovering "stranded" oil using enhanced recovery methods. Laredo Oil's common stock is listed on the Pink Sheets under the symbol, "LRDC."
Forward-Looking Statements
This press release and the statements made by Laredo Oil in this press release may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements describe Laredo Oil's future plans, projections, strategies, and expectations, and may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. These forward-looking statements are based on assumptions and involve a number of risks, uncertainties, situations and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results expressed or implied by these statements. These factors include changes in interest rates, market competition, changes in the local and national economies, and various other factors detailed from time to time in Laredo Oil's SEC reports and filings, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Laredo Oil undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
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SOURCE Laredo Oil, Inc.
FAQ
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