Evolution Petroleum Corp. issued an operational update on its oil and gas activities in the United States for the third quarter of fiscal 2011. The company is active in various projects in Texas and Louisiana.
Evolution Petroleum is working on the Delhi project in Louisiana, where the company is developing the field using enhanced oil recovery techniques involving the injection of carbon dioxide into older wells to stimulate oil production.
Evolution Petroleum reported that phase two of the Delhi project achieved first oil production in March 2011, and volumes are approximately twice the level produced in phase one of the project. The company estimates that the company has 9.4 million barrels of proved reserves at Delhi as of 6/30/2010.
Evolution Petroleum has also reported that it has successfully drilled and completed a well in the Giddings Field in Grimes County, Texas. The well was producing at a rate of 2.74 million cubic feet of natural gas and 17 barrels of oil per day.
Evolution Petroleum Corporation said that the well targeted the Georgetown formation and was producing on a restricted rate due to the unavailability of pipeline capacity at the field.
For more information on the company, go to www.evolutionpetroleum.com