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United Oil & Gas Corp. acquires 5 new oil leases

United Oil & Gas Corp is pleased to announce the acquisition of 5 additional oil leases in Shackelford County, Texas.  

The leases consist of 21 oil wells, one water injection well and 2 drill sites. At least one well will be converted to a water supply well. The company plans to initiate secondary recovery by converting 2 existing wells to injection wells as parts of a planned, engineered waterflood. Initial production from this lease can be expected as early as November 2017.  

The principal reason for waterflooding an oil reservoir is to increase the oil-production rate and, ultimately, the oil recovery. This is accomplished by “voidage replacement”—injection of water to increase the reservoir pressure to its initial level and maintain it near that pressure.


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