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Oil and Gas Fields
China, South Field
This property consists of approximately 200 acres in Jefferson County that have 2 producing wells and a saltwater disposal well. The field has accumulated 2.8 million barrels of oil and 800,000 mcf gas from the Hackberry formation (7,500’). The lease currently produces 10-15 barrels of oil per day, but has additional zones behind pipe in which new completions can be made to enhance the daily production. Also, additional leases can be acquired containing wells for potential re-entry and re-completion. Further, there may be additional drilling locations. Initial rates are expected to be 200 bopd and 300 mcfgpd.
This field is located on a 230-acre oil and gas lease in Tyler County. The lease has 3 wells situated thereon, one of which is currently producing at the rate of 13-15 bopd. The field produces from multiple zones in the Wilcox formation, occurring between the depth of 8,175’ and 8,500’. The field has accumulated production of approximately 400,000 barrels of oil and 350 million cubic feet of gas. Upon completion of the work, the combined daily rates should exceed 200 bopd plus casing head gas at the rate of 250 mcfgpd. Remedial and re-completion work on the property is pending the approval of a Plan of Operation by the National Park Service. A new well will be drilled in the 1st quarter of 2012 to a depth of 8,600’ to complete in the Wilcox sands.
Alta Mesa, E. Field
The Mangel No. 1 well is located on a 63.3 acre oil and gas lease in Brooks County. This well accumulated over 700 million cubic feet of gas and 14,000 bbls of condensate prior to encountering mechanical problems and was shut-in. Bayside and its associates have successfully re-entered the well and removed the obstruction. The well had 4,000 psi at the well head prior to re-entry operations and the calculated bottom hole pressure is in excess of 8,000 psi. During the re-entry, 18 pound drilling mud had to be used to keep the well in control and significant gas and condensate was recovered during the operations. Bayside expects the well to produce natural gas at estimated rates ranging from 2.5 to 3.5 mmcf/d plus 30+ bbls condensate. Completion work on the well is now ongoing.
Remediation underway at the Mangel No. 1 well at Alta Mesa
This project is located in Duval County and consists of a tract of 160-acres with a possibility of acquiring an additional 480 acres. Four (4) productive wells were drilled on the tract, all producing oil for the Lower Cole Sand at an approximate depth of 2,500’. All of the wells are now plugged. An additional 22 wells were successfully drilled on the adjacent 480 acre tract. Together the 26 wells produced 545,000 barrels of oil. The Company believes there are additional development opportunities to extend the field on this lease. Also, it is believed there are potential shallower and deeper gas sand development opportunities. Wells originally completed had initial production rates ranging as high as 175 bopd. It is believed several wells can be drilled and should produce at a minimum of 25 to 50 bopd. The first well will be drilled during 1st quarter 2012.
Government Wells, S. Field
The Company has two leases totaling 1,695 acres in the field. Presently the Company is engaged in a Joint Venture with another Company to develop the properties. Work has commenced on the venture and the first well has been placed into production. A total of 9 reworks/re-completions plus the drilling of 2 new wells will be accomplished in the initial phase of this program. The Company has 27 wells to rework and/or re-complete and approximately 30 additional developmental locations. The field produces from the Government Wells sands at depths ranging from 2,300’ to 2,400’. Additionally, there are Loma Novia sands present below the Government Wells that are productive as well.
Kelsey, S. Field
The Company has acquired leases in Starr County, Texas with 4 existing well bores that have produced previously. The Company plans to equip the wells to test them in their current producing zones and to re-complete in other productive zones, of which there are 4 to 5 additional ones available. Also, there are locations to be drilled on the leases and additional leases are available to be acquired for future development.
Loma Novia Field
The Company has interests in two leases in this field in Duval County, Texas, which offset the Government Wells, S. Field leases. One lease has 2 wells, one of which was drilled in 2010. The other well was a re-entry and completion. Another company currently operates the wells and is testing them. Negotiations are underway to acquire all the interests in these wells. The other lease is a new acquisition and has 7 wells. The Company will initiate operations during 2012 to rework and/or re-complete all wells.
The Company has interests in 2 leases in this field. The first is on the El Cid Ranch in Dimmit County, Texas. One well has been re-entered and drilled horizontally in the Austin Chalk formation. A second horizontal re-entry well was attempted but started flowing oil before the hole could be taken to the horizontal. Presently the Operator of the property is in litigation with the mineral owner of the property and all development is on hold.
The second lease is in LaSalle County, Texas and has 1 well bore to be re-entered and completed in the Austin Chalk formation. The initial operation will be to produce the well from the vertical and later drill it horizontally.
Seven Sisters Field
BYSD owns interests in a 160-acre lease that has 1 well that has previously produced oil. This well has 3 zones that have tested productive and re-completion operations will be commenced during the 1st quarter of 2012 to put the well back into production. The productive zones are the 1400’ sand, the 2200’ sand and the 2300’ sand.
Bayside has an option to acquire a 10% interest in a lease in this prolific field located in Lamar County. The lease contains 4 wells, 3 production wells and 1 disposal well. The lease has produced from the Tuscaloosa Sand at a depth of 8,000’ from these wells. Bayside and its associates will initially test one well utilizing a high volume pump in order to obtain a larger fluid rate. On last production tests the wells produced 200 barrels of fluid with a 5-7% oil cut. Historically moving larger amounts of fluid have increased the oil cut from similar reservoirs and Bayside plans to produce fluid at rates of 1,500-2,000 barrels per day per well and expects oil recoveries in the range of 300 to 400 bopd.
Bayside will report its progress on the above projects, including reworks, production enhancements and new project acquisitions in a timely manner via corporate news releases and updates to this website. Shareholders and other interested parties may receive all news releases and other communications directly via email by registering their email address on the HOME page.
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