West Ranch Field, Jackson Co. Tx.In 2003, PNP Petroleum purchased 35 wells and 1500 acres of the West Ranch Field in Jackson County, Texas. The property was not producing and was in need of a great deal of work. PNP designed a plan to re-establish projection from past sands, re-designed the gas lift system and increase the ability to dispose of produced salt water. This field required newer HLT (High Lift Technology) to be able to recover additional reserves. After one year of extensive work, the West Ranch field production increased to over 600 boepd and 20,000 bwpd. Total oil and gas sales were over $750,000/month and net cashflows were over $500,000 per month. After producing over 500,000 BOE and 15million bbls of water, in less than three years, the field was sold in 2009.
Chapman Abbott Field, Williamson Co. TxIn 2003, PNP Petroleum purchased the field from an independent producer. The field was discovered in 1935 and had cumulative production of over 5.8 million bbls. The field was producing 18 bopd from 20 wells. PNP evaluated the field and only performed a few workovers but increased production to over 25 bopd and increased profitability. The field was sold in 2012.
Pearsall Austin Chalk Horizontals, Frio, Zavala, Lee, Fayette Co. Tx.In 1988, PNP Petroleum purchased 28 vertical AC wells producing 75 bopd. Using newer frac techology, PNP increased production to over 210 bopd. Wells were then sold into the developing horizontal boom of the late 80's and early 90's
Production Acquisition, Texas and LouisianaIn 1990, PNP Petroleum purchased 38 wells in Texas and Louisiana. The properties were generating $50,000 net per month at closing and by the end of PNP's ownership, these same properties were generating over $100,000 net per month.
American Eagle Energy: AMGZ.obAmerican Eagle is a small public company with significant assets in the Bakken Shale Play. PNP Petroleum assisted American Eagle to expand its acreage, drill additional wells and grow to over2,600 boepd by January 2014. PNP Petroleum has a very strong relationship with the management and will continue to assist in the growth of the company.