G2 Energy CEO Slawek Smulewicz joined Steve Darling from Proactive to share news about the company's flagship asset, the Masten Unit in Cochran County, Texas.
G2 Energy has started a crucial initiative termed the Production Enhancement Program (PEP) for its core asset, aimed at boosting the production of oil and gas.
Smulewicz explained the purpose of the PEP, which is designed to elevate the production of oil and gas from the Masten Unit's leases while concurrently reducing operational costs to enhance the overall value proposition of the Unit.
G2 Energy has outlined a comprehensive five-point strategy to elevate the Unit's value. This strategy involves assuming operatorship of the Masten Unit, assembling a proficient operating team in Texas with a deep understanding of the Permian Basin, conducting an in-depth diagnostic and integrity assessment of wells and facilities to identify opportunities for enhanced production, implementing optimization measures in the facilities to drive down costs, and initiating well workover programs to reactivate idle wells and perforate untapped zones.
Remarkably, within just three weeks of implementation, G2 Energy has already completed essential field maintenance and successfully brought eight wells back into production.
The company has also devised a comprehensive Workover Plan for three wells, including the high-performing well A-13, expected to yield over 20 barrels of oil per day.
Notably, based on historical records, the immediate effect of bringing these three wells online is projected to result in an impressive 89% increase in the Unit's oil production, equivalent to approximately 34 barrels of oil per day.
The initiative's swift and substantial impact underscores G2 Energy's commitment to enhancing operational efficiency, optimizing production, and creating tangible value for its stakeholders. The proactive approach outlined by Smulewicz highlights the company's dedication to innovation and sustainable growth in the energy sector.
View source version on newsdirect.com: https://newsdirect.com/news/g2-energy-begins-production-enhancement-program-at-masten-unit-in-texas-639659968
G2 Energy Corp
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