Project Profile
Location: Victoria County, state of Texas, USA
Production: 10,000 barrels of oil and around 0.5 BCF of gas
Reserves: 150,000 barrels of oil and 7.5 BCF of gas
Area: 640 acres
The Chicas Locos Project is an oil and gas project located in Victoria County, state of Texas in USA. There is 1 well producing currently and there are 2,000 acres additionally available for lease. The project has estimated oil reserves 150,000 barrels and gas reserves of 7.5 BCF. Fourteen wells are expected to be drilled. Expected oil production per well is estimated at 10,000 barrels, while expected gas production per well at around 0.5 BCF gas. Moreover the completed costs per well is calculated at US$450,000.
Bering Exploration was subsequently merged into Breitling Energy, which had become snared in a fraud scandal by June 2016. Breitling\'s CEO and seven other people were charged by the US Securities and Exchange Commission (SEC) with defrauding investors of around US$80 million by misleading them about the value of its oil and gas assets.
Operators:
Bering Exploration: Operator with 100% interest