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Operation Areas
Termo’s principal oil and gas assets are its operated properties. The operated properties make up more than 50% of the proved developed reserve value and most of the proved undeveloped and probable reserve value. The non-operated properties’ largest value is in producing royalty packages that have continued to be attractive sources of cash flow over the years. In addition, Termo’s non-operated working interest in the Bakken has been a significant area of reserve growth and we continue to participate with premier operators in this and other exciting shale plays around the United States.
West
Los Angeles Basin, California
Termo operates in five fields in the Los Angeles Basin. The Company's interest involves more than 3,000 net acres and includes 35 producing wells with approximately 700 BOEPD. Most of the properties have upside and development drilling potential.
Ventura Basin, California
Termo operates in two fields in the Ventura Basin with over 1,000 net acres and 21 wells producing approximately 310 BOEPD. Both properties have long-life reserves and future development drilling potential.
San Joaquin Valley, California
Termo operates in two areas in the San Joaquin Valley. In the Mountain View Field of Kern County, the Company’s interest involves 230 net acres where the upside potential has begun to be realized from a water-flood program begun in 2009 that has resulted in a 15% increase in production.
In 2014 Termo, based on new geological analysis, began drilling in southwest Fresno County and were successful in two separate areas. These two wells currently produce approximately 100 BOPD and the Company has plans for two additional wells in 2018.
Sacramento Valley, California
Termo has operations in four gas fields in the Sacramento Basin. Operations involve approximately 2,200 net acres. Operated wells produce approximately 600 MCFPD.
Rockies
Powder River Basin, Wyoming
Termo holds an interest in approximately 12,000 acres and operates producing wells in Wyoming's Powder River Basin making this an area of significant interest for the company. This area of our operations contributes approximately 105 BOEPD.
Termo's South Joe Creek exploratory prospect resulted in the discovery of the Reservoir Creek (Muddy formation) and SA Creek (Minnelusa formation) Fields. In late 2000, the SA Creek Unit was formed to water flood the Minnelusa. Ultimate recovery from the Unit is projected to be two million barrels of oil.
We continue to explore for oil and gas in Wyoming through various projects and are actively seeking acquisition and drilling opportunities.
Mid Continent & Gulf
South Louisiana
Termo’s operated production in the Section 28 Field in St. Martin Parish contributes approximately 395 BOEPD from 11 producing wells on 3,500 acres. Over the last few years, we have increased production approximately 30% through optimization, acquisition of outside interests, and development drilling.
We continue to develop and exploit our holdings in this area and search for new opportunities.