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Sunray Oil's Abilene Project Investors Get Excellent Return on Investment
By Elisabeth Lawrence
Sunray Oil's Abilene Project, which is situated about ten miles northeast of Abilene, Texas, recently produced a "gusher." "We just completed the first well of the Abilene Project, and it flowed more than 250 barrels of oil in the initial 48 hours," says Keith Alexander, president and CEO of Sunray Oil Company, Inc. (www.sunrayinvestment.com). Noting that Sunray's investors are ecstatic about their return on investment, he continues, "We choked it back so that it would produce only 50 barrels a day (BOPD) in order to prolong the life of the well. A reserves study shows that this well should produce in excess of 55,000 barrels of oil."
"With the price of crude oil hitting an all-time high of over $70 per barrel, it's more important than ever that the U.S. reduce its reliance on foreign oil and that American oil producers step into high gear," says Alexander. "Right now Americans are consuming over 20 million barrels a day and the U.S. is importing over half of that. This is why domestic drilling – such as Sunray's Abilene Project – is such a boon to American consumers."
Sunray Oil employs the latest seismic, directional drilling, logging, and completion technologies to transform unproductive oil projects into profitable ventures. "Because each location and formation has different characteristics, our engineers and geologists implement state of the art technology to maximize production," says Alexander.
Sunray has begun drilling the Abilene Project's second well, which should be completed within a week. The company has identified over a dozen other drill sites, and anticipates pinpointing an additional 100 drill sites on the oil field. "Overall estimates place the reserves on this site at slightly under 5 million barrels, with projected net revenues of over $150 million," says Alexander.
With investor support, Sunray Oil continues to pump the crude by taking over leases of existing abandoned wells and transforming them into steady and lucrative oil-producing success stories. "Research has proven that extending and sustaining the life of a well is more economically advantageous than drilling a new well," says Alexander. "Sunray's focus is on minimizing risk to its investors while maximizing economic returns."
Abilene is but one of Sunray Oil's promising projects. "We're confident that reworking and drilling existing oil leases in a variety of oil fields will continue to add to our company's bottom line, and help reduce America's dependence on foreign oil in the process," Alexander says.
Since it is unlikely that congressional approval for drilling in the Arctic National Wildlife Refuge (ANWR) will be forthcoming, and Alaska's Prudhoe Bay pipeline infrastructure is crumbling and causing oil spills, it is up to oil producers in the lower 48 to keep the oil pumping. The Texas-based Sunray Oil Company, as an independent oil and gas company with over 50 years of experience in acquiring, drilling, completing, and reworking oil and gas leases, is doing just that.
About the Author
Elisabeth Lawrence is the Senior Editor for Press Direct International. She is a veteran writer and TV producer/director. Received three EMMY awards while at CBS. Wrote for the Wall Street Journal, and as a TV & video consultant, handled material for Fortune 500 clients including Exxon, Pepsico, The Ladies Home Journal, RJR Nabisco, J.C. Penney, Hill & Knowlton and United Artists.
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