EGPI Firecreek, Inc. has discovered a significant oil & gas reserve in the Tubb Leasehold Estate located in the AMOCO/CRAWAR Field in Ward County, TX.
Because of this recent discovery, the company plans on performing a rework on one well, in order to cap off the currently producing reserve, and coming up hole and drilling at a shallower depth (approx 3700 ft – 3900 ft) which has shown a significant oil and gas deposit. The company anticipates that this rework will increase production of both oil and gas while lowering repair costs and maintenance due to drilling at a shallower depth.
Dennis Alexander, CEO and Chairman, stated, “We are very optimistic with the discovery of this new oil & gas reserve at the Tubbs Estate. We see a great opportunity for rapid expansion as we continue to focus our efforts in the energy sector.”
As previously reported, EGPI Firecreek has now refocused its attention into building and expanding its oil and gas and alternative energy divisions.