AUSTIN, Texas, Jan. 24, 2012
TAP Management is currently in the process of planning a fracture stimulation treatment for a well drilled in the Horseshoe Gallup field in San Juan County, NM. The company is expected to commit to a plan and move forward with the treatment late in the first quarter of 2012.
The Horseshoe Gallup well was drilled to a total depth of just over 1900' with its main prospective pay zone as the Upper Gallup sandstone. The Upper Gallup was encountered as expected, but oil shows attributable to up-hole Mancos intervals were observed during drilling and warrant further investigation. Test results thus far have been largely inconclusive, and additional field development is currently pending post-analysis of the referenced fracture stimulation treatment.
Construction of a surface discharge system was recently completed for TAP Management's Herrick and Parkinson field wells outside of Casper, WY. The surface discharge system is expected to result in lower operating costs and should lead to increased production capacity for both fields.
Construction of the surface discharge system began in September 2011. The system became fully operational early in 2012, and TAP is currently in the process of completing well work-overs in an attempt to capitalize on the increased production capacity of both fields. Electric submersible pumps have been run in two producing wells in the Herrick field, and electric submersible pumps are expected to be installed in two shut-in wells in the Parkinson field as well. Following completion of prescribed work-overs and monitoring of the surface discharge system performance over the next couple months, TAP hopes to see daily production averages from its three Laramie basin fields double by the middle of the second quarter.
About TAP Management
TAP has been building a portfolio of oil and natural gas production since its founding in November of 2005. It identifies specific targets in oil and gas fields that meet its risk/reward criteria.
TAP began executing this strategy by drilling new gas wells in South Texas using three-dimensional seismic technology. It now employs a broad range of tactics to produce oil and gas including purchasing existing production, utilizing forced pooling, and expanding its use of 3D seismic.
Today, TAP has producing assets in the South Texas, Gulf Coast, Rocky Mountain and Mid-Continent regions.
For more information on TAP Management, Inc. visit www.texog.com
SOURCE TAP Management, Inc.