This project, which contains 1576 acres of oil leases, is located in eastern Santa Maria Valley oil field. Amrich Energy is partnered with PRE Resources, who is a joint venture partner. Amrich Energy currently has seventeen (17) permitted wells to be drilled. Three (3) wells have been drilled or re-entered and tested commercial quantities of oil. Additional wells will be drilled in the 2nd half of 2015. A production facility is scheduled to be built in June of 2015 with the first sell of oil to be in July of 2015.
Located in the Santa Maria Valley field, Amrich Energy has leased 1600 acres in the heart of the oil productive section of the Monterey formation. Twenty three (23) oil wells and two salt water injection wells are scheduled to be drilled from one or two pad sites. Two (2) oil wells and one (1) salt water injection well have been drilled to date, and Amrich Energy has permits in hand to drill an additional twenty (20) wells. Amrich Energy acquired Warren Resources’ ownership interest in the 4th quarter of 2014 and now serves as the operator on this project. Commercial oil production is ongoing.
Amrich Energy owns and/or operates 1660 acres with an option for an additional 2000 acres. During 2014 Amrich successfully drilled or re-entered four (4) oil wells and constructed production facilities and infrastructure. Amrich currently has twenty (20) permitted wells to be drilled. Drilling and development will continue through 2016.
In 2015, Amrich Energy acquired 1820 acres of oil lease located in the Casmalia oil field. The process to permit the drilling and development has commenced as of 1st quarter of 2015. Amrich is currently in the process of strategic development for exploitation of large amounts of projected reserves via development of four (4) oil wells, one (1) salt water injection well and the construction of a production facility.