Shale Daily / NGI All News Access

Victory Completes Prospect Well in New Mexico

Victory Energy Corp. said Thursday a carbonite formation well in southeastern New Mexico it holds an interest in has been successfully re-entered, five years after being plugged, and is now completed, fracked and producing oil and natural gas.

Newport Beach, CA-based Victory acquired an interest (10% working, 7.5% net revenue) in the Uno Mas No. 1 well in November through a partnership with Aurora Energy Partners. The well -- formerly known as the Manzano Apple "MS" No. 1 -- is located in Lea County, NM, and is targeting the Mississippian Detrital carbonite formation. The well is near unconventional natural gas wells targeting the Avalon Shale and the Bone Spring Formation.

Victory COO Kenny Hill said Midland, TX-based V-F Petroleum Inc. (VF) is the operator. The other interest holders at the Uno Mas well were not disclosed.

Although Victory declined to disclose flow rate data from the Uno Mas well until VF includes it with public regulatory filings, when known as Manzano Apple the well produced 3,410 bbl of oil and 117,967 Mcf of natural gas after a 2,000-gallon acid treatment. Manzano Apple's average monthly production was 650 Mcf before being plugged in 1996. According to Victory, hydraulic fracturing (fracking) had never been performed previously at the well or the targeted formation.

Re-entry operations began at the Uno Mas well at the end of October, Victory said, with swab flow testing being conducted in late November. Fracking commenced on Dec. 16 and the flowback of fluids was realized immediately afterward, it said. Natural gas lines were opened on Dec. 23, followed by fluid flow to tanks. Fracking fluid continues to be pumped into the well.

Victory said seismic data from VF indicate that the Uno Mas well is similar to a well owned by Devon Energy Corp. According to the State of New Mexico Oil Conservation Division website, the Devon well -- South Shoebar 15 State No. 2 -- has had cumulative production of 4 Bcf and 90,738 bbl of oil since being spud on Sept. 28, 1999.

Victory's portfolio also includes oil and gas properties in Hughes County, OK, and Cameron, Crockett, Howard, Jones and Pecos counties, TX.

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