Project Profile
Value: Undisclosed
Location: Santa Barbara County, California, USA
Reserves: 2.3 billion barrels of OOIP and 109 mmboe (91% oil)
Area: 5,850 acres
Start-up Year: -
The Asphaltea project of Underground Energy, located Santa Barbara County, California, consists of two initial prospects and four prospective highly fractured zones that target the Monterey Shale and covers an area of 5,850 acres of land. The property is located close to existing infrastructure and existing Monterey Shale oil production. According to GLJ Petroleum Consultants, a consultancy service company, there are 2.3 billion barrels of OOIP and 109 mmboe (91% oil) of prospective resources at Asphaltea. There are currently 26 wells permitted at the Asphaltea project.
Operator:
Underground Energy: Operator with 100% interest
Contractors:
GLJ Petroleum Consultants: Consultancy services