Properties

Our Properties

Jovian Petroleum Corporation currently owns and operates sunset fields located throughout Oklahoma & Texas.

SUDS - Creek County, Oklahoma

Jovian owns 100% Working Interest in the "Slick Unit Dutcher Sands" (SUDS) field, which consists of 2600 acres in Creek County, Oklahoma. The SUDS field was completed in 1918. at 200 BOPD. By April 1921, oil production had peaked at 17,000 BOPD. By 1959, approximately 14,000,000 barrels of oil were recovered from the Slick Field of which 7,000,000 barrels were primary production and 7,000,000 barrels were secondary production at an average well depth at 3,100 feet.

Waterflooding was introduced in 1959 by SOHIO Oil Company and continued until 1985 when the field was sold. Production peaked at 2,500 BOPD in 1963 and with graduate production decline was 230 BOPD by 1985.

By the end of 1985, oil price was at $13/Bbl and the new Operator, Oklahoma Natural Resources (ONR), shut down several wells to reduce electric bills. As a result production dropped to 120 BOPD. The continued economic conditions coupled with field maintenance expenses forced ONR to shut down in May 1989. In 1990, Horizon Natural Gas Company purchased the Slick Field and returned the field to production at 90 BOPD and stabilized production through 1993.

Horizon's engineering results indicated remaining reserves of at least 1,800,000 barrels of oil to an economic limit of 1%. Evaluation of the waterflood program indicates that 3,000 barrels of makeup water per day will sustain total fluid production rates of up to 14,000 BTFPD. At present oil cuts, this would result in oil production rates of approximately 350 BOPD. Since 1993, the field has periodically been tested and produced but no planned effort has been undertaken.

Jovian plans to return to production (RTP) at all producing wells from the Dutcher formation. In addition, the Company plans to secure water from existing wells to commence the secondary recovery process through water flood and forecast production levels to stabilize at around 350 bopd if the water flood is implemented according to plan.

To understand Waterflooding: Watch our video

ZOLLER - Calhoun County, Texas

Jovian owns 100% Working Interest of the Zoller field which is comprised of 1,700 acres of shallow water lease located in San Antonio Bay, Texas. The field was initially drilled in 1965 and has 3 producing wells. Current production averages of 13 BOPD. With minor downhole well repairs at each of the three wells, the field is capable of producing an estimated 50 BOPD. The Company has budgeted approximately $100,000 towards these well repairs.

Once this initial objective is achieved, the Company plans to execute a workover program on all three wells, which is further capable to bring the field to an estimated 100 BOPD. Studies indicate that by reentering the well bores and perforating existing zones and additional zones above and below the current producing zone could be effective and thereby greatly increasing the amount of recoverable reserves and the corresponding value of the field. The 1P and 2P reserves are estimated at 150,000 barrels and 350,000 barrels, respectively.  No reserve report has been prepared as yet on this field. However, the Company plans to complete an engineering evaluation on Zoller as soon as practical.

In recent months there has been active industry drilling surrounding Zoller’s 1,700 acres of leased property. The Company plans to drill 2 wells once these prospects are further developed and a drill program is completed. The Company will prepare a drilling budget by 3rd Q, 2011 as it continues to meet its immediate initiatives.  Capital required for developing and executing such a drill program would be raised at that time through various debt and/or equity opportunites.