Hydrocarb Energy Oil Production Increases 57% in September
October 08 2014 - 08:30AM
Business Wire
After an extensive infrastructure improvements program begun in
July 2014, Hydrocarb Energy Corporation (HECC), a domestic and
international energy exploration and production company targeting
major under-explored oil and gas projects in emerging, highly
prospective regions of the world, today reported 6000 barrels of
oil production during September 2014 from its Galveston Bay, Texas
oil and gas assets, up 57% from 3800 barrels of oil production in
August 2014. Gas production decreased modestly from approximately
9617 thousand cubic feet (MCF) in August to 9000 MCF in September
2014.
Chuck Dommer, President and COO of Hydrocarb, stated,
“Continuing infrastructure improvements are expected to further
increase oil and gas production through the end of 2014 and into
2015, allowing for more consistent production and steady output
growth. Current improvements on Hydrocarb Energy’s Galveston Bay
oil and gas producing assets are targeting strategic equipment
upgrades while the project’s second phase, winterizing select
wells, should significantly reduce or eliminate cold
weather-related production delays, increasing daily production
rates.”
Additionally, 14 wells have been targeted for work overs which
should restore or increase oil and gas production via well repair
and/or re-completions between the Miocene age Frio formation
reservoirs. The work is expected to take several months, and be
completed in February 2015. Furthermore, Hydrocarb has engaged Dune
International to analyze 3-dimensional seismic data for the Redfish
Reef, Fishers Reef, and Trinity Bay work over wells. Dune will also
investigate drilling prospects of the deeper Vicksburg and Yegua
formation to identify potential oil and gas resources.
About Hydrocarb Energy
Hydrocarb Energy Corporation is a publicly-traded Domestic and
International Energy Exploration and Production Company targeting
major under-explored oil and gas projects in emerging, highly
prospective regions of the world. With exploration concessions in
Africa, production in Galveston Bay, and Oil Field Services in the
United Arab Emirates, we maintain offices in Houston, Texas, Abu
Dhabi, UAE and Windhoek, Namibia. For further information:
www.hydrocarb.com.
Forward-looking Statements
This release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements, which contain words such as "expect,"
"believe" or "plan," by their nature address matters that are, to
different degrees, uncertain. These uncertainties may cause actual
future events to be materially different than those expressed in
our forward-looking statements. We do not undertake to update our
forward-looking statements.
PCG Advisory Group, LLCScott Powell, +1 646-780-8850Managing
Directorspowell@pcgadvisory.comwww.pcgadvisory.com