Foothills Exploration acquires 21-well position in Oklahoma

Foothills Exploration Inc. has acquired certain leases and wells in Comanche County, Oklahoma, from an undisclosed seller.

The company closed on the purchase of 21 shallow oil and gas wells, situated across four leases, on Jan. 31, 2023, the company said in a release Feb. 13. The stripper wells have an average depth of 1,200 ft and primarily produce from the Granite Wash formation, the company said.

The return-to-production program on the wells will consist of cleaning out existing wellbores, facility maintenance, electrical work, and flowline repair work, which is expected to deliver collective production rates of 20-25 b/d of oil for all wells.

Operations are scheduled to begin immediately, and each well is expected to return to production systematically, with new production projected to begin coming online the week of Feb. 20th. WHZ Oil & Gas LLC, an indirect subsidiary of Foothills, will operate the assets.