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Thursday, May 25, 2017 8:20:24 PM
Hunter Oil owns and operates two large, historic oil fields in the Permian Basin of Eastern New Mexico - the Milnesand and Chaveroo fields, which together comprise in excess of 23,000 gross acres, held by production. Historical production of these two fields is approximately 40 million barrels. Hunter has engineered a horizontal redevelopment of the San Andres productive zones. The Company plans to unlock the value in these resource-rich fields by leveraging existing infrastructure, lowering operating costs and increasing efficiencies of its operations.
As at January 1, 2017, Hunter has estimated 1P Reserves of 15.3 MMBOE, 2P Reserves of 21.4 MMBOE and 3P Reserves of 38.9 MMBOE (million barrels of oil equivalents).
Assets are operated from Hunter Oil's Houston base. The management team has decades of experience in oil production, both internationally and domestically, allowing for a great understanding of operating assets on both state- and federally-regulated lands.
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