Avalon Oil & Gas Inc. is an independent domestic oil and natural gas producer. The company’s strategy is to use efficient reservoir maintenance and innovative technology to generate stable cash flows and production from a portfolio of oil and gas lease properties in Texas, Oklahoma, Louisiana and Arkansas.
Here is a brief overview of some of Avalon Oil & Gas properties:
In Miller County, Arkansas, Avalon owns a 50% working interest in the Dixon Heirs #1, Deltic Farms & Timber #1, and Gunn #1 wells along with associated units and leases. These are mature wells, originally drilled in the 1980s, with stable production. Through recent workovers and production optimization activities in the field, Avalon has doubled production since the acquisition of the property in July 2006.
In the state of Oklahoma, Avalon has a couple properties in Noble County. The company owns an undivided 16% working interest in the Hughes #1 well and surrounding acreage. This well was originally drilled and completed in 1998 and tested 4 Mmcf per day. Following a successful workover, the well’s production has been steadily increasing and the increase is expected to continue. Most recently, the well was producing both oil and gas at a rate of 5 barrels of oil per day and 20 Mcf per day.
Avalon also recently acquired a 10% working interest in a property in Nowata County, Oklahoma. The lease contains several wells not currently in production. Plans to bring the wells back into production are in the final evaluation phase and operations should commence before year-end.
Avalon also owns a 50% working interest in a horizontal Paluxy well located in Wood County, Texas. This well was originally drilled in the early 1990s and is currently shut-in to address a casing leak. The company is considering workover options for the well with the goal of re-establishing production.
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