White River Holdings was recently sold by Ecoark Holdings to Fortium Holdings in exchange for $30,000,000 of non-voting convertible preferred stock. (Source: Shutterstock.com)
White River Operating LLC successfully completed a workover project on its operated Deshotel 24H 001 well after the drilling and completing the well in March 2021, a press release announced on Sept. 1.
Due to a paraffin build-up in the well's vertical casing and tubing, production on the Deshotel well had been inhibited but is now showing a 500% increase in production to an initial 30 bbl/hour after the blockage was removed with a heavy water flush into the wellbore and artificial lift was installed.
Located in the Bayou Jack North Field of the Austin Chalk formation in Avoyelles Parish, La., the well was originally drilled as an open-hole lateral 3,799 ft long with a 4,046 ft long vertical section.
“My team and I analyzed the paraffin issue at the Deshotel well and correctly determined that removing the well’s packer, adding chemicals to the well’s casing and performing the heavy water flush and artificial lift addition would be the optimal procedure to remove the blockage in the well’s tubing," White River field operations superintendent Larry Parker commented in the release.
"We’re very happy with the well’s post-procedure production and oil cut and are looking forward to aggressively drilling out our leasehold now that White River has been acquired by Fortium,” he continued.
In addition to the successful Deshotel well project, White River recently announced it will acquire two additional drilling rigs for its equipment portfolio from BitNile Holdings Inc. Together, the two companies are currently conducting another drilling project in Holmes County, Miss., at the Harry O'Neal 20-9 No. 1 well.
Based in Missouri, White River was recently sold by Ecoark Holdings Inc. and is now a fully-owned subsidiary of Fortium Holdings Corp., which holds over 30,000 cumulative acres of mineral leases for exploration, productions and drilling operations in Louisiana and Mississippi.
We are ecstatic with not only the results of this workover procedure but also the return on investment as this was an extremely low-cost procedure performed by our own vertically integrated oil and gas operation," Fortium executive chairman Randy May added.
"In addition to our plan to continue drilling new oil wells, we will continue to monitor our existing portfolio of wells for opportunities to perform workover procedures to increase oil production in an efficient manner.”
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