South Texas Projects
Since 2010 Emerald Bay has focused on the exploration, development and optimization of oil opportunities in South Texas. The Company’s production comes from five key counties within South Texas: Medina, Bexar, Atascosa, Guadalupe and Gonzales. Within these counties Emerald Bay and its partners have established cost-effective drilling and completion programs despite low commodity prices. Management’s thirty years of experience in South Texas has enabled them to establish strong relationships with regional service companies, creating an edge over its peers.
In 2019, Emerald Bay is focusing its efforts on its Wooden Horse Kuhn wells, partnership with HugoCellR Ltd., and projects with its subsidiary Production Resources, Inc.
Over the Last Year...
- The Company entered into a partnership agreement for a new well drilling program in South Texas with HugoCellR Ltd.
- The Company drilled two new wells (Kuhn 4 and Kuhn A5) at Wooden Horse.
- The Company re-completed Kuhn 3 at Wooden Horse.
- The Company acquired additional offset acreage at Wooden Horse.
- The Company added a new technical team to evaluate and execute development plans at Wooden Horse and Nash Creek.
- The Company increased its ownership in Production Resources Inc. (PRI) from 10% to 75%.
- PRI re-worked 40+ wells in Somerset and Taylor-Ina to increase daily production by 28%.
- The Company completed 8 additional MarPat wells, for a total of 16 wells, to earn a 25% carried working interest in the wells.