2018 Capital Budget and Drilling Plans
January 23, 2018
While Termo has largely sat on the sidelines for the last two years, we did continue to participate in our non-operated working interest positions, which included multiple Bakken wells, some drilling in Texas and Louisiana, and a working interest position in Weld County, CO.
As we enter 2018, we are eager to drill. Our current plans include two medium risk development wells in Fresno County to build upon our 2014 discoveries there. The Company also plans a moderate risk exploratory well in Kern County near our existing operations. The Kern County well is currently going through the local permitting process while the Fresno County wells have completed the local entitlement process.
In addition to the three exploratory wells, Termo will continue with its workover and enhancement plans of its operated wells in California and Louisiana. The Company hopes to bring some idled wells back on line in Wyoming as well.
Also in 2018, the Company plans to continue its rewarding non-operated working interest participation in multiple Bakken wells, several Niobrara wells in Colorado, and a small interest in three wells in Oklahoma’s SCOOP/STACK areas.