Haskell County, Texas; Landmaster successfully funded the Swenson lease project which involves the rework of 6 oil wells. There are a total of 8 wells on the lease. One was producing and another is a water disposal / injection well. This property has produced over 2.5 million barrels of oil over the past 60 years and is still going strong!
In September of 2014, the Swenson #14 well was reworked and was completed with much higher than expected oil production. Landmaster had anticipated a total of 80-100 BOPD from the entire Swenson 8 well project. The #14 initially produced 277 BOPD and now steadily produces approximately 40 BOPD.
In November, the Swenson #12 was completed with production averaging 20 BOPD and 800 BWPD. The well was squeezed to reduce the water and the well is currently producing 10 to 15 BOPD with 300 BWPD using a pump jack. The well will be placed back on the screw pump in late January in hope of pumping it off and increasing oil production. There are still 3 more wells on the Swenson to be reworked. Landmaster anticipates the total production on this project to average 150 BOPD.
The Swenson 2A well produces 5 to 6 BOPD and 20 BWPD. The Swenson #6 well had a Neutron log which indicates the Upper Swastika Sands with 18 to 20% porosities and a thickness in excess of 20 feet. It appears this sand covers most of the 500+ acre lease.
THE CONTENT CONTAINED IN THIS BLOG POST IS NEITHER AN OFFER TO SELL, NOR A SOLICITATION TO BUY SECURITIES.