Iberville B-5 – Happytown Field
Shale Energy International is pleased to announce the acquisition of a portion of the 14,000 acre lease in the Happytown Field. After a year of extensive negotiations and due diligence, Shale Energy International, LLC has entered into a joint venture with Apollo Energy, LLC purchasing and developing two producing oil and gas wells located on 80 acres of a 14,000-acre lease in the Happytown Field in St. Martin Parish, Louisiana.
The field is considered a gem as there are numerous opportunities to further rework existing wells that were prematurely abandoned. There are also additional developmental drilling opportunities that will target numerous oil and gas pay zones. Shale Energy, LLC in association with Apollo Energy and Lucror Exploration Company plan on redeveloping and refurbishing a portion of Happytown Field. This will be accomplished through several stages. The first stage purchases existing production and work over the Iberville A-l oil well to increase production, the second stage works over an additional well to further increase production and the third stage drills one to two new wells targeting unproduced pockets and reservoirs in known sands.
Happytown was discovered in 1936 by Shell Oil Company and was interpreted as a deep-seated salt dome. Since the completion of the initial well on November 20, 1939, there have been 55 other wells drilled in this field, 37 of which have been productive. To date, there has been over 5 million BBLS of oil and over 60 BCF of gas produced.
The two wells are making 30+/- barrels of oil per day. There are also additional wellbores to re-enter along with several developmental drilling opportunities for future development. The Iberville No. B-5 (Serial U 137041) well has produced from numerous oil/gas pay zones and continues to produce 22+/- barrels of oil per day. The Iberville No. A-1 (Serial U 178425) well has produced from several oil/gas pay zones and continues to produce 8+/- barrels of oil per day.