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Incremental Oil and Gas Ltd (ASX:IOG) has recently been reviewing new project acquisition opportunities, and the company has now dialled into an oil production and development asset in the U.S.
Incremental Oil and Gas Ltd (ASX:IOG) recorded a 5-day average initial production rate exceeding 1,200 MCFD (thousand cubic feet per day) at the Silvertip Field in Wyoming, U.S. The company’s strategy is to identify and acquire low risk, underperforming oil and gas fields and apply modern technology and expertise to increase production and enhance hydrocarbon recovery. Significantly, a greater than 400 pounds per square inch (PSI) flowing casing pressure from the new gas well indicate virgin reservoir conditions with excellent flow characteristics.
Incremental Oil and Gas Ltd (ASX:IOG) is a producing oil and gas company with a focus in onshore California.