Nostra Terra's assets and operations are focused on low-risk exploration and developmental drilling in the onshore areas of the Mid-continental USA.
We target basins that have proven to be long-lived, liquids-rich production areas. Through the application of modern techniques of drilling and multi-stage fracture completions, we reach into compartmentalized reservoirs and greatly improve the economics of multiple formations. Because much is already known about the rock properties and production profiles, much of the geological risk is mitigated. These methods have created exciting new growth opportunities in well-understood reservoirs.
Straddling New Mexico and Texas, the Permian Basin is approximately 240 miles wide and 300 miles long. In June 2014, the Permian Basin was estimated to be the world's second largest oil field in terms of total recoverable resource, with at least 75 billion barrels of oil equivalent recoverable resources present.
Within the Permian Basin Nostra Terra is focusing on shallow, conventional reserves. Nostra Terra has 50% to 75% working interest in leases located in Mitchell County, Texas. All leases are Held By Production, giving Nostra Terra full control over the timing of any future capital expenditure decisions.
On the first well Nostra Terra drilled, we went from permitting to producing and receiving revenues in less than four months.
Pine Mills is a 2,400-acre producing oil field located in Wood County, Texas. All leases are Held By Production, giving Nostra Terra full control over the timing of any future capital expenditure decisions. Nostra Terra owns 100% working interest and is the operator.
Nostra Terra acquired Pine Mills in November 2016. The Company aims to increase production via further workovers on already identified targets.