A Positive Year
January 15, 2020
Overall, 2019 was a positive year for The Termo Company, with several exploration and recompletion projects. The Termo Operations Team was busy in California and Louisiana and we also expanded our non-operated interest in Colorado and Oklahoma. Some highlights:
- Drilled a commerically successful step-out well in Fresno County, CA
- Drilled a dry-hole in Kern County, CA (not going to succeed if you don't try)
- Recompleted a highly productive well in the Aliso Canyon Field, Los Angeles County, CA
- Aquired a neighboring property in our operating area of the Mountain View Field, Kern County, CA and we are currently looking at possible improvements
- Successfully reworked wells in our Section 28 Field in St. Martin Parish, Louisiana, resulting in a gain of ~80 bopd
- Gained from a successful non-operated position in a development project in Colorado resulting in the completion of multiple Niobrara and Codell wells
- Participated in a highly successful Washita County, OK, horizontal well that will lead to the drilling of several offset wells
As 2019 drew to a close, we finalized our 2020 plans for over $7 million in exploration, development, and recompletion projects in our areas of interest.
Termo continued to maintain (and will continue in 2020) a conservative posture while enjoying a strong balance sheet. We benefited from strategically hedging and increased focus on improving operations of marginal properties.
We closed out the year with no safety or lost-time incidents, and we continued to enjoy the support and hard work of a great and dedicated staff.
Here's to continued success in 2020!