Welder Ranch, Texas
The Welder Ranch property is operated by Carter E&P, a private Texas operating company owned by Vice President Steven Carter. The property has been a productive asset of the company since 2006. In late 2011, production and cash flow were increased through a recompletion operation to the Patrick Welder #5 well.
Depth Range: 5,000-8,000 feet Working Interest: 100%
Operator: Carter E&P, LLC (company owned and operated by the VP, Steven Carter)
Depth Range: 3,000-11,700 feet
Working Interest: 3.0%
Operator: Rockwell Energy
Markham City North Field, Illinois
Duma Energy's team of geologists and engineers identified and developed the Markham City North project. The project was marketed to potential operators and financial partners with experience in the Illinois Basin. Core Minerals decided to become the operator and invest a minimum of $1.35 million into the development and testing of the field. Duma Energy is carried for 10% working interest until Core has recouped their initial $1.35 million investment. After that milestone is achieved, the interest rises to 25% and costs will be shared. Currently, the field is in the early phase of the pilot waterflood testing.
Depth Range: 2,000-4,000 feet
Working Interest: 10% carried (will rise to 25% upon cost recovery by operator)
Operator: Core Minerals