PACO Oil & Gas Inc. to Bring Olsen Lease Wells Up to Full Production
Tuesday, August 26th 2008
PACO Oil & Gas Inc. have acquired the necessary permits to operate an injection well located on the Olsen lease properties. There are 6 wells being re-worked on the 105 acre, Washington, Oklahoma properties. The injection well will pump water into the well formations that will help increase production flow rates on all 6 of the wells being re-worked. PACO Oil & Gas Inc. has begun preliminary production on 2 remaining wells on the Olsen lease acreage and will begin re-completion of the additional wells after the evaluations are complete.
PACO Oil & Gas Inc. is an exploration company focused on purchasing undervalued oil and gas leases with little or no production in the United States. Its experienced technical team then increases the lease’s production thereby significantly increasing the value.
PACO Oil & Gas concentrates its efforts developing undervalued well communities into micro scale production facilities. These working assets have all been refurbished and outfitted with the latest in oil recovery equipment. Since many of these assets are shallow wells, former owners were technically unable to reach deeper deposits. PACO has the technical team to go further and more efficiently.
