Endeavor Power Corp. engages in the acquisition, exploitation and development of oil and natural gas properties in the United States. Their corporate objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. Endeavor also aims to define larger projects that can be developed with Joint Venture partners.
Endeavor has production and properties based in the state of Oklahoma. They have a goal of re-working and developing over 200 working wells by the end of 2009. The company’s land team has over 30 years experience in the Oklahoma area. They are currently focusing on the Patrick Henry Lease.
The Patrick Henry Lease is in the North Eastern part of Oklahoma. The company’s areas of focus for 2009 will be primarily in Rogers County, Nowata County and Craig County. Endeavor will also explore other nearby areas as is feasible. Development and production of the leases will consist of a combination of primary and secondary recovery. Secondary recovery efforts will include water flood and the use of an NCO2 machine to re-pressure existing formations, enhancing and increasing production.
In early June, Endeavor Power Corp. announced that all 14 wells on the Patrick Henry Lease are now operational and in production. Their joint venture partner, Federated Energy, estimates that there are approximately 20 barrels of oil being produced each day. They expect production to increase as the salt-water injection system continues to add pressure to the formation. With all 14 wells working, Federated will soon commence to frac the wells in groups of seven. They expect initial oil production to exceed 40 barrels per day and to continue to increase as the salt-water injection system adds to the reservoir pressure.
Let us hear your thoughts below: