VENTURA, Calif.--(BUSINESS WIRE)--Team Resources, Inc. ("Team"), an independent oil and natural gas development company, is excited to announce the Gammon Oil Development Fund I, LP, an established oil field enhancement project using Horizontal Radial Jet Enhancement (RJE) technology. This fund was organized to further develop Team's acreage in the Donelson West Field located in Cowley County, Kansas.
Team acquired the Gammon Leases, which are situated in the heart of the Donelson West Field, on December 15, 2010. With the successful drilling and positive tests for oil in the Gammon #20-1 and the Gammon #20-2 wells in the second quarter of 2011, Team plans to further develop these leases. The Gammon Oil Fund I, LP. plans the drilling of four new wells in an effort to further extract proven oil reserves and will complete this oil reservoir utilizing Horizontal RJE.
"Leasing and drilling activity has intensified dramatically in Cowley County over the past year," said Kevin Boyles, President and CEO of Team Resources and Managing General Partner of the Gammon Oil Development Fund I, LP. "Major & midsize oil companies are acquiring acreage in mature fields at a record pace due to the advent of new technology. These companies are then drilling horizontally in reservoirs similar to the formations we have on several of our leases.
"According to the Cowley County register of deeds, 116 leases were filed in May 2011, up from only seven in April, 2010. Horizontal drilling has picked up considerably in the area and word in the "patch" is that very good results are being witnessed in both new and existing wells. We are expanding our current acreage positions to include these areas in order to be a part of this success," Boyles added.
Team has contracted with Well Enhancement Services "WES" of Hays, KS, to implement their horizontal completion technique. According to WES, Horizontal RJE has been proven to enhance production three to ten fold and is less costly than most conventional technologies. RJE is a method of "Jet Drilling" horizontal laterals using a high-pressure water jet system. Oil reserves that otherwise would have remained beyond the reach of conventional technologies can now be recovered efficiently and economically. In some cases, production recoveries are to a point equal to or exceed the well's initial production.
About Team Resources
Team Resources, Inc., headquartered in Ventura, CA, is an oil and natural gas operating company founded in 2002 by President & A. Boyles. The company's current development acreage is located in southeastern Kansas. The field offices are located in Yates Center and Burden, KS, with operations being supervised by BC Management Services Corp. (BCMSC, Team's Kansas Production, Operating and Service Company). BCMSC is a "hands on" company presently operating numerous wells along with a 300 mile natural gas transmission pipeline system. BCMSC maintains Team's properties by owning a completion rig, bulldozers, trenchers and gravel/water trucks that provide the ability to build and maintain infrastructure.