Velandera Energy is the largest exploration and production company in North Louisiana and South Arkansas, with 25,000+ net acres of mineral rights. Velandera Energy has state of the art oilfields, wells, pipelines and infrastructure. These assets were built with capital expenditure exceeding $600 million. The Company has 100+ mineral sites, which if drilled, hold reserves of $619 million. The Company is privately held.
Uses an UltraFab H2S removal system to efficiently treat the acid gas waste stream and meet emissions requirements. Our engineers apply extensive field experience to design an optimal system configuration and use a safety-first focus to minimize risk to the assets, equipment and the environment.
Unlike most oil and gas companies that are debt laden, Velandera operates virtually debt free. This allows the company to ride commodity cycles, and make investment decisions even in down cycles.
The Company's geophysical team and land department have identified 20 drilling locations within the core area with access to seismic data. If its 100+ well sites are explored, the Company has mineral reserves with PV-10 of up to $619 million
Velandera has 3D seismic data covering approximately 50,000 acres. The seismic study was achieved with $27 million capital expenditure. 3D seismic data study provides a highly accurate measurement of hydrocarbon reserves, and allows the company to de-risk its drilling program.
Velandera's efficient drilling program has reduced drilling and completion cost per well from $19+ million in 2013 to sub-$5 million today
Velandera has long term gathering and processing agreement with ETC Texas Pipeline, an affiliate of Energy Transfer Partners. Under this agreement, ETC facility is located at the Company's site, and allows access to major marketing hubs for the company's products.
Smackover shale in North Louisiana is home to prolific reservoirs. 215 million boe net recoverable resources, economic at sub-$50 WTI prices