$AGYP has made significant progress at all its lease sites >>
ANNIE GILMER: AGYP's pumps are producing between 160 and 300 barrels of total fluids daily. They have a 2.5-5% oil cut. A newer and more powerful electrical submersible pump (ESP) is designed to handle 1,500 barrels of fluid daily. At a 2.5% oil cut, that's 37.5 barrels daily or 13,687.5 barrels annually. At a $80 price per barrel, that's $1,095,000 annually. Remember, many analysts are calling for triple digit oil by the time AGYP will be presumably selling this oil.
The above estimate is on the low end; at a 5% oil cut AGYP would produce 75 barrels daily. At $80 per barrel, annualized value would reach $2,190,000.
Remember, many analysts are calling for triple digit crude prices by the time AGYP will be presumably selling this oil.
Annie Gilmer oil production could grow even higher as AGYP is in talks with Tri-County to set up 3-phase/200 amp service and add the ESP electrical pumps.
PROMETHEUS LEASE, WELL 1H: AGYP is pumping more. AGYP is pumping 2,000 to 2,400 barrels of fluid daily. At the same cut of 2.5%, it is pumping 50 barrels of oil daily. At an $80 price, that gives AGYP $4,000 daily that would translate into $1,460,000 annually.
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