- Holder of over 23,000 gross acres of two proven, resource-rich oil fields – the Milnesand and Chaveroo fields – in the Permian Basin of New Mexico
- Historical, recorded production of the fields is approximately 40 million barrels of oil equivalent (BOE), representing less than 10 percent of the oil in place
- Net present value of reserves, discounted at 10 percent, is estimated at $829.7 million.
- Debt free and a 100% working interest owner, Hunter Oil benefits from the legacy oil field infrastructure that includes existing roads, power, water injection facilities and other infrastructure
- Management team boasts decades of experience in oil production, both internationally and domestically, bringing a deeper understanding of operating assets on state and federally regulated lands
Hunter Oil Corp. (TSX.V: HOC) (OTCQX: HOILF) is an oil and gas exploration, development and production company. The Company’s corporate headquarters are located in Vancouver, British Columbia, and its operational headquarters are in Houston, Texas. Along with its subsidiaries, Hunter Oil is engaged in acquisition, development, operation, and exploitation of crude oil and natural gas properties in the Permian Basin in eastern New Mexico. The Company owns and operates two large, proven oil fields – the Chaveroo and Milnesand San Andres fields – with a total acreage position of over 23,000 acres that are essentially contiguous. Hunter Oil’s operations involve re-accessing the existing reservoirs and developing the resource by utilizing contemporary completion techniques and proven unconventional recovery technologies.
First developed in the 1950s and 1960s using vertical well production technology, the Chaveroo and Milnesand fields produced 40 million barrels or only a fraction of the original oil in place, leaving behind significant recoverable reserves. Hunter Oil plans to unlock the…
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(1) This information is a summary only and readers are referred to the Company’s news release dated April 26, 2018 for further details, as well as to the evaluation of the Company’s reserves conducted by independent qualified reserves evaluator, Cawley, Gillespie & Associates, Inc., effective December 31, 2017 which is available at www.sedar.com.