Winchester Energy Ltd
Winchester Energy Limited is an Australia-based oil and gas exploration and production company with operations in West Texas, USA.
The business
Winchester Energy Limited is an Australia-based oil and gas exploration and production company with operations in West Texas, USA. It controls over 2,600 acres in the Permian Basin, producing predominantly from the Strawn Formation but also from the Ellenburger and Cisco Formations. It operates 26 wells and has interests in another 10 non-operating wells. Its projects include Nolan County and Jocelyn - Varn. The East Permian Basin contains a number of stacked oil and gas reservoirs and its leased acreage in Nolan County has significant oil resource potential across a host of historically productive formations, such as the Fry/Strawn Sands as well as the thick Penn Carbonate, Wolfcamp 'D' organic shales, Crystal Falls (Canyon), and Cisco formations. The Company has a 70% working interest in the Jocelyn - Varn waterflood project in Taylor County, Texas. The project is located 18 miles to the east of its Nolan County acreage.
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Bast well workover provides ‘strong encouragement’ for Winchester Energy
Restart of Winchester Energy’s (ASX: WEL) field work at its East Permian Basin oil acreage in Texas has already generated encouraging results after a workover of Bast #1. Winchester has completed a workover of its 92%-owned Bast #1 well which included a recompletion and fracture stimulation in the Upper Cisco Formation. According to Winchester, the […]
Winchester Energy to restart exploration and development across Texan oil leases
Winchester Energy (ASX: WEL) is poised to restart exploration and development at its Texan leases including drilling the Bast Deep prospect, followed by more drilling in the Mustang oil field and a workover program of existing wells. The global COVID-19 pandemic triggered an operational hiatus for Winchester in 2020, which holds an extensive lease position […]
Winchester Energy updates reserves as oil prices buoy performance
Texas oil and gas operator Winchester Energy (ASX: WEL) reports that a reserves and resources audit places its total proved, probable and possible (3P) reserves at 495,800 barrels of oil equivalent (boe). That is broken down to 383,900bbls of oil and 671.8 million cubic feet (mmscf) of gas. In its announcement, Winchester notes the audit “confirms the […]
Winchester Energy buoyed by rising global oil prices
Texas producer Winchester Energy (ASX: WEL) netted $503,876 in the December quarter, a result assisted by recovering global oil prices. Its average sale price per barrel of oil was US$37.81. Oil prices have continued to improve since the end of the quarter and overnight in the US West Texas Intermediate (WTI) futures had risen past […]
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