After an extensive infrastructure improvements program begun in July
2014, Hydrocarb
Energy Corporation (HECC),
a domestic and international energy exploration and production company
targeting major under-explored oil and gas projects in emerging, highly
prospective regions of the world, today reported 6000 barrels of oil
production during September 2014 from its Galveston
Bay, Texas oil and gas assets, up 57% from 3800 barrels of oil
production in August 2014. Gas production decreased modestly from
approximately 9617 thousand cubic feet (MCF) in August to 9000 MCF in
September 2014.
Chuck Dommer, President and COO of Hydrocarb, stated, “Continuing
infrastructure improvements are expected to further increase oil and gas
production through the end of 2014 and into 2015, allowing for more
consistent production and steady output growth. Current improvements on
Hydrocarb Energy’s Galveston Bay oil and gas producing assets are
targeting strategic equipment upgrades while the project’s second phase,
winterizing select wells, should significantly reduce or eliminate cold
weather-related production delays, increasing daily production rates.”
Additionally, 14 wells have been targeted for work overs which should
restore or increase oil and gas production via well repair and/or
re-completions between the Miocene age Frio formation reservoirs. The
work is expected to take several months, and be completed in February
2015. Furthermore, Hydrocarb has engaged Dune International to analyze
3-dimensional seismic data for the Redfish Reef, Fishers Reef, and
Trinity Bay work over wells. Dune will also investigate drilling
prospects of the deeper Vicksburg and Yegua formation to identify
potential oil and gas resources.
About Hydrocarb Energy
Hydrocarb
Energy Corporation is a publicly-traded Domestic and International
Energy Exploration and Production Company targeting major under-explored
oil and gas projects in emerging, highly prospective regions of the
world. With exploration concessions in Africa, production in Galveston
Bay, and Oil Field Services in the United Arab Emirates, we maintain
offices in Houston, Texas, Abu Dhabi, UAE and Windhoek, Namibia. For
further information: www.hydrocarb.com.
Forward-looking Statements
This release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements, which contain words such as "expect," "believe" or "plan,"
by their nature address matters that are, to different degrees,
uncertain. These uncertainties may cause actual future events to be
materially different than those expressed in our forward-looking
statements. We do not undertake to update our forward-looking statements.
Copyright Business Wire 2014