Zion Oil & Gas – ZN – Stock Price & News

We’re drilling the lateral on our Blades Well in Tangipahoa Parish, Louisiana and just getting started in the C.H. To mitigate the recent completion issues, we plan to drill lower target wells, as is the case with the CMR, Blades and Lewis wells, which we are currently drilling, and the CMR, we’re currently completing. We feel you cannot deny the resource potential of the TMS when you look at recent well results. We are adding a third rig to the TMS at the end of the month, and we’ll have a number of additional well results coming over the next couple of months. We reported completion results on our Huff well and upper target well at 530 BOE per day on a 13/64 choke, which was approximately 95% oil. We expect to minimize and hopefully eliminate the remaining drilling and completion issues prior to contracting for the fourth and fifth rigs. Thank you, Jan. While some operational challenges remain, we are working very hard and continuing to make progress designing best practices in the TMS for drilling and completion operations. While some mineral right owners are keen about the idea of selling their mineral royalties, others display reservation. What I will say is that the Crosby Wells outside reserve fit pretty much right in between the 600,000 and 800,000 barrel curve.

The next redetermination of our borrowing base will occur in April 2014, based on our year-end reserve report. We reported year-end reserves of 452.2 Bcf equivalent, a 36% increase over the prior year period. 2.5 million from prior year quarter and consistent with last quarter. Improved EURs and lower average well cost in the Eagle Ford Shale trend drove the rate improvement compared to last year. Our primary finance initiatives for 2013 were to improve liquidity, shore up the balance sheet and position the company for a ramp-up in the TMS in 2014. There are 2 preferred stock offering and common stock offering last year. 4.76. Please see our website for more detail on our current derivative position. Okay, and I guess, a couple of those wells, do you guys have like current production rates on the Smith, Crosby and Foster Creek, in terms of what they’re producing today? Of our operated wells in which we now have some history, our Crosby has produced 160,000 barrels equivalent in approximately 11 months.

Many of our non-operator wells are also trending around or at our 600,000 to 800,000-barrel curves as well. We drove the well in 2012 but opted not to drill any well utilizing the existing wellbore, and expense the remaining well cost in the fourth quarter. 0.33, or 28% of the fourth quarter rate, represents noncash stock-based compensation. Michigans production of both represents only a small percentage of the states oil and gas needs, but there is considerable potential for further production in existing and new fields. The industry viewpoint is that there is more gas still to be found. Please refer to these reconciliations for more detail. Please see our 10-K for a more detailed financial discussion. We also see the potential for upside on production and reserves on our non-operated wells, with optimization of artificial lift. “Consumers should see stove oils drop by 1.37 cents per litre, diesel to drop by 2.0 cents a litre and gasoline should drop by 2.3 cents, that’s with all fourteen days of data in hand now.

Make sure they can reach a human being, provide them with answers to their concerns, reassure them they have something you will buy and that yes, you can close within 7 days and their money will be in their account. Because a GIS dataset will normally contain environment and geographical threats, you can institute an emergency preparedness program for your aboveground facilities in order to reduce risk factors. I plan on keeping it in working order and hopefully I can pass it along to one of my daughters. This unit can carry 23,000′ of 23/8″ coiled tubing. On each of these wells, we have installed artificial lift or if already on lifts, lowered the pump and tubing depths, and significantly increased the pump capacity with new Rotaflex pumps. We have staggered our rig contracts to give us flexibility on timing and capabilities across our portfolio of opportunities. The island’s gas reserves have been estimated at 11-trillion cubic feet, with four new oilfields being found in the waters in the last two years. It saw one of the record developments in terms of time from discovery to first oil and since then has seen a number further developments and gas being developed, too.

Thus, the press operator performs fewer adjustments, which enables him to attend more closely to the process, thus reducing the number of rejected copies. Newsom said the number of hydraulic fracturing permits had increased without his knowledge. This is why it has given stress on R&D activities to come up with eco-friendly hydraulic fracturing programs. Q: Why ELCB can’t work if N input of ELCB do not connect to ground? And investors who believed the industry’s ceaseless hype are now grappling with reality – that their money was drilled into the ground and is gone. The investors behind that growth, however, have little to show for it. It’s composite plugs, we’ve certainly — we and others across multiple plays, have drilled out hundreds, if not thousands of plugs that are composite plugs. His values are zero and is not a Christian as he tries to imply. You are educated of the essential equipment for preparing food with a wood burner oven to achieve success.