Somerset Energy Partners Corp. (SEPC), a burgeoning player in the South Texas oil exploration scene, is making waves with its strategic approach to low-risk, low-cost operations. Led by CEO and Director Toby Pierce, SEPC boasts a seasoned leadership team with a combined expertise of over 80 years in the geological and financial realms within the resource sector. SEPC pioneers the use of advanced chemical compounds to enhance oil recovery, reduce environmental impact and maximize production efficiency, setting new standards in the energy sector.
SEPC's recent endeavors include targeting 15-18 wells over the next month, aiming to add over 200 barrels per day (b/d) of new production from previously untapped zones. Notably, the Hartung Leases, a specific part of SEPC's field, have yielded impressive results, producing 13-15 barrels of oil per well per day from the Cretaceous-aged Anacacho Limestone formation.
Furthermore, SEPC has prioritized sustainability in its operations, collaborating with a bespoke chemical supplier to develop economic and sustainable flow assurance chemicals to enhance well productivity. This commitment to responsible resource extraction underscores SEPC's dedication to environmental stewardship.
SEPC's growth trajectory is underscored by its historical milestones and future roadmap. In the second half of 2024, SEPC plans to execute a RegA offering followed by an up listing to a US exchange, further solidifying its position in the market. Previous achievements include acquisitions such as the Bigfoot field, expanding SEPC's asset portfolio to approximately 1,700 wells across 31,000 acres.
The journey began in March 2021 when Somerset Energy acquired its initial interest in the Somerset field, implementing recompletions, chemical cleanouts, and waterflood tests. Subsequent successes, including a hydraulic fracturing program in the Lit formation, have propelled SEPC's growth, with initial production rates surpassing expectations.
SEPC's operations are anchored in its deep understanding of basin geology and leveraging of technological advancements. With a focus on historical wells and new drilling locations, SEPC identifies opportunities for optimization and expansion. Notably, SEPC's utilization of chemical technology has revolutionized well production, leading to improved fluid entry, reduced downtime, and enhanced recovery rates.
As SEPC continues to innovate and expand its footprint in South Texas, it remains committed to sustainable growth and responsible resource management. With a track record of success and a vision for the future, Somerset Energy Partners Corp. stands poised to become a leading producer in the region, unlocking significant reserves and driving value for stakeholders.
For further information, visit the Somerset Energy Partners Corp. website at somersetenergy.com.
About Somerset Energy Partners Corp. (SEPC)
Somerset Energy Partners Corp. (SEPC) is a forward-thinking exploration and production company specializing in sustainable oil extraction in South Texas. With a focus on innovation, SEPC leverages advanced technology and a seasoned management team to drive responsible growth and unlock the region's vast energy potential.
Media Contact
Company Name: Somerset Energy Partners Corp.
Contact Person: Chris Beltgens, President
Email: Send Email
Phone: +1 604 282 6372
Country: Canada
Website: https://somersetenergy.com/
