Foothills Exploration Inc. will restore production to wells in Kansas and Oklahoma after closing an acquisition of Jubilee Exploration LLC.
Jubilee Exploration holds 545 shut-in or stranded oil and gas wells on multiple leases in northeastern Oklahoma and southeastern Kansas.
Foothills will start a gas production program for 39 wells in Craig and Nowata counties in Oklahoma consisting of wellhead reconnection, facility maintenance, electrical work, and flowline repair work. Collective production rates of 1.5-2.5 MMcfd are expected. Natural gas production from the acquired wells could be increased to 5-8 MMscfd within the first 2 years of production, the company said.
In addition, 14 oil wells in Jackson and Garvin counties in Oklahoma also will be returned to production. Foothills expects a combined 30-40 bo/d from the properties. The Garvin County assets include three drilled uncompleted wells (DUCs) as part of the package. The Garvin County wells are the subject of litigation proceedings, which are in the process of being settled by the parties, Foothills said.