USA Superior Announces $122 Million Net Present Value of Probable Reserves
Market Wire, April, 2008
The Company's combinations of technologies -- cased hole horizontal stimulation to increase the connectivity between the oil bearing rocks and the wellbore, and nitrogen generators to repressurize the large amounts of oil left in the ground -- is a business model that produces larger increases of oil out of older proven fields at lower cost. Having 6 to 9 months of accelerating production rates will allow the Company to establish a new proven historic production rate, thereby allowing the Company to continue to prove up the viability of these well bore and reservoir enhancement technologies. Much of the oil the Company has in a probable reserve category can then be revised to a proven category for SEC reporting purposes.
In addition to developing the existing proven reservoirs, USA has identified an exploratory potential growth opportunity 600 feet under its Bateman acreage. USA believes it can successfully isolate and exploit an opportunity identified in the Edwards formation using modern completion practices. Early in the discovery and development phase of the field, four wells were drilled in 1982 into the top of the Edwards formation. All wells showed a formation with good porosity and permeability. Results of the fifth well drilled in 1983 on the Company's acreage showed eleven feet of oil sitting on top of water from conventional whole core. The Company controls over 200 acres of this Edwards oil potential in a structural position above the oil-water contact. The Company plans to test this formation later this year by entering one or more of the older wells. While very exciting and of potential value, none of these potential large recoveries are calculated in our probable reserve model.
For more information, please visit www.usa-superior.com
ABOUT USA SUPERIOR ENERGY HOLDINGS, INC.
USA Superior Energy Holdings, Inc. (OTCBB: USSUE) is an oil and gas enhanced recovery (EOR) and drilling company focused on shallow well oil and gas fields in Texas. USA Superior is composed of a team of seasoned experts in their field, with over 50 man-years of oil and gas and shallow well field experience of reworking, stimulation, finding, drilling, horizontally drilling and well completion operations and production. USA Superior currently owns all of its projects but will joint venture or have working interest relationships when appropriate. To maximize production, USA Superior Energy's also provides complementary technologies including specialized work over technologies, shallow well cased hole horizontal drilling applications and the utilization of portable Nitrogen (N2) applications. USA Superior uses these technologies as is appropriate to enhance older oil field business opportunities. Cased Hole Horizontal Drilling (CHHD) is an emerging drilling application that can significantly increase the "communication" from the wellbore to the fluids in the reservoir. Nitrogen (N2) is used to force oil out of reservoirs. It can be applied to existing reservoirs and wellbores, thus minimizing the cost and risk of finding oil and gas. With the current price environment, large blocks of existing older well fields can be rejuvenated into very profitable wells at low cost and high margins with new technology.
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Using object-oriented analysis and design over traditional structured analysis and design



