Project Profile
Location: Atascosa and Frio Counties, south of San Antonio, Texas, USA
Area: 3,435 acres
Average Production: 30 bopd
Drilling Depth: 4,500 feet
Start-up Year: -
El Toro Project is located in Atascosa and Frio Counties in Texas, just south of San Antonio in the heart of one of the most productive oil regions in the world. EnerJex Resources announced successful production results from three new wells in this project during early 2012. Two of the wells achieved an initial production rate of 40 to 50 bpd each, and one well achieved an initial production rate of 20 to 30 bpd from the Olmos formation at a depth of 4,500 feet. The company drilled and completed 3 new wells in its El Toro Project during 2012 with a 100% success rate.
El Toro Project has the potential to yield millions of barrels of recoverable oil. Multiple oil fields surround the Company’s acreage, which combined have produced more than 100 million barrels of oil since the 1950’s from the Olmos formation. The El Toro Project acreage was neglected due to its relatively tight reservoir characteristics. Recent advances in stimulation technology have enabled EnerJex to drill and complete new oil wells in this project with a high degree of success. The first two wells drilled by the company produced approximately 100% more oil during the first 12 months of production than the best well in a directly adjacent field which has produced approximately 10 million barrels of oil.
Operators:
EnerJex Resources: Operator with 46% interest
Other minors: 54% interest