Victory Energy collaborating with Aurora Energy Partners has acquired a working interest in the University 6 #1 Tunis Creek property. This is fourth prospect or well interest for the company and purchased in less than 60 days.
This property is acquired by the company from the famous Midland and V-F Petroleum, based in Texas. Victory Energy has bought 5% working interest and 3.75% net revenue interest and expects to spud the well by April end.
The location of this Tunis Creek prospect is 25 miles east of Fort Stockton, Texas and is enclosed by major hydrocarbon showings in all the three targets. The company is allowed to analyze the prospect for Wichita, Albany, Wolfcamp and Ellenburger structures. The property is in the Central Basin area of the fertile Permian Basin. Also, the delivery infrastructure of hydrocarbon is closer.
Victoria Energy has planned to drill a total depth of 7,500 feet at the Tunis Creek prospect. The 1,600 acre lease area includes two divisions of block 20 and the University Lands analysis.
Midwest Oil (1 University) has opened one-well Renaud and Tunstill field near east-northeast in the same area. The well has pumped 248 barrels of 43-degree oil per day over 6,810-95 feet from the Ellenburger structure. This includes discovery of oil on Simpson at 5,940 feet, Wolfcamp at 4,834 feet, Connell at 6,439 feet and Ellenburger at 6,795 feet.