Northcote Energy Complete Infrastructure Upgrades at Shoats Creek Field

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Completion of Infrastructure Upgrades at Shoats Creek Field

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Northcote has announced the completion of the planned infrastructure upgrades at the Shoats Creek Field in Louisiana. Following the completion of the infrastructure upgrades, which have been inspected and approved by the State, the field is fully equipped to support production from the LM#20 well as well as production from future Frio wells up to an estimated capacity of 1,500 BOPD.

The infrastructure work completed includes:

– Installation of 5,400 barrel oil and water storage tanks with room for incremental additions as production grows in the course of drilling additional wells
– Installation of high and low pressure separators, heating, flare stacks and other necessary production equipment
– Installation of associated pump and pipeline work

At the LM#20 well, production operations are now commencing and the production rate will be reported in due course after rates have stabilised.

Northcote Managing Director Randall J. Connally said, ‚ÄúThis is an exciting time for Northcote and we expect this well to generate substantial cash flow at current prices. The economics of the Frio formation at Shoats Creek are fairly strong at US$40 and US$50 oil prices and thus preparation for drilling additional wells continues. Timing and other information regarding our 2016 plans will be released in due course, and we look forward to further developing what we believe is a great oilfield this year.”

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