While the Texas Railroad Commission reports most of the top Texas counties for oil production are located in the Eagle Ford Shale, some operators are returning to fields in East Texas and successfully employing horizontal drilling and hydraulic fracturing procedures to stimulate wells and target areas long overlooked or barely tapped.
One such company is Horizon Energy Corporation (OTCQB:HORI). It is currently conducting oil and gas exploration at the Holmes Oil Unit Number 1, located in a long established producing trend on the border of Cherokee and Rusk Counties in East Texas.
“We are excited to follow the lead of producers such as Anadarko Petroleum and EOG Resources in returning to East Texas to revitalize oilfields in this area,” said Robert Bludorn, President and CEO of Horizon Energy Corporation. He added, “ As we apply new technology to old fields and gain another pass at these resources, we help strengthen our state’s world leadership role in the energy industry.”
Recent fracture stimulation testing at the Holmes site has generated optimism and confirmed the presence of oil and gas in sufficient quantities to warrant moving forward with production. The company has scheduled a workover rig to put pump equipment back into the well following testing so the project can proceed to recovery operations.
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