BCME NEWS: BCM Completes Workover of the Nelson 12 Well
Monday 13 June 2011
BCM Energy Partners, Inc. (OTC: BCME) has completed the workover of the Nelson 12 well in the University Field.
The Nelson 12 well had been shut-in for over two years. BCM successfully completed this workover last week, including removing and replacing well tubing and string and installing a hydraulic pumping system.
The well effectively came online June 9, 2011 with an initial production rate of approximately 35 bopd.
The Nelson 12 well is the first of approximately 6 workovers to be performed in the University Field. Management expects to increase production through workovers from current rates (appr. 40 bopd prior to Nelson 12) to over 200 bopd by the end of 2011. This should result in an increase in annual production from approximately 14,400 bo to 72,000 bo.
BCM Energy Partners was established to acquire distressed oil and gas assets with the intent to build a portfolio of proven reserves associated with producing wells. Since late 2007, BCM Energy Partners has been actively developing a network of field owners and managers throughout the Gulf Coast with a focus on identifying distressed, "off-the-radar" opportunities. BCM has an effective management team that is well-connected within the Gulf Coast oil and gas industry with over 100 years of collective experience acquiring and exploiting oil and gas assets. Management is supported by an impressive roster of equity-incentivized advisors from the corporate finance and energy industries. More information is available at www.BCMEnergy.com.
Forward-looking statements speak only as to the date they are made, and except for any obligation under the U.S. federal securities laws, BCM Energy Partners undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
SOURCE BCM Energy Partners, Inc.
