This lease is part of the historic Nail Ranch, founded by William Chapman “Buck” Nail late in the 19th century.
United Oil & Gas acquired this lease in 2017 and started the re-development of Nail Ranch in late 2017.
Today, the fourth generation runs operations and the Nail Ranch today operates a strong cow/calf operation numbering over 3,000 mother cows.
United’s Nail Ranch holding consists of 5 leases with 21 oil wells, one water injection well and 2 future drill sites.
Next steps include the analysis of the existing wells and their necessary workover procedures in accordance with our petroleum engineer’s recommendation. Most work will consist of circulating the wellbores clean, acidizing perforations and changing downhole pumps. Additionally, 3 existing oil wells will be converted to water injection wells as part of an engineered waterflood.
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.
Safety and compliance with environmental guidelines are of the highest priority at United Oil & Gas. To provide a safe and clean working environment protects our employees and nature.
The Q4 video update provides a summary of United Oil & Gas' activities in the fourth quarter of 2017, as well as an outlook for the planned work in early 2018.