Project Profile
Location: Morgan County, Colorado, USA
Area: ~ 19,000 acres
Average Production: 10 bopd
Drilling Depth: ~5,500 feet
Start-up Year: -
EnerJex Resources acquired the Adena Project through its recent merger with Black Raven Energy, Inc., which is now a wholly-owned subsidiary of the company. The Adena Project is located in Morgan County, Colorado, where EnerJex owns a 100% working interest in approximately 19,000 acres representing the vast majority of Adena Field. This acreage has been held by production since it was unitized by the Union Oil Company of California (Unocal) in 1956. Nearly all of the producing wells in Adena Field were temporarily abandoned or shut-in during the secondary recovery phase in the mid-1980s when oil prices collapsed, and only a small number of wells have been producing since that time. This project produces oil and natural gas from the J-Sand and D-Sand formations at a depth of approximately 5,500 feet. Approximately 135 additional wells are currently shut-in or temporarily abandoned, of which EnerJex has initially identified approximately 80 wells to be re-activated in the J-Sand or re-completed in the D-sand. The company’s producing J-Sand wells currently average more than 10 barrels of oil per day (BOPD) and its most recent D-Sand re-completion achieved an initial peak production rate of approximately 100 BOPD before stabilising at a rate of approximately 30 BOPD. In addition, a secondary waterflood project in an isolated D-Sand oil pool was initiated during the first quarter of 2013. According to the Colorado Oil and Gas Conservation Commission, Adena is the third largest oil field in the history of Colorado behind Rangely and Wattenberg, having produced 75 million barrels of oil and 125 billion cubic feet of natural gas.
Operator:
EnerJex Resources: Operator with 100% interest