South Texas Projects
Since 2010, Nexera Energy has focused on the exploration, development and optimization of oil opportunities in South Texas. The Company’s production comes from seven key counties within South Texas: Wilson, Duval, Medina, Bexar, Atascosa, Guadalupe and Gonzales. Within these counties, Nexera and its partners have established cost-effective drilling and completion programs despite low commodity prices. Management’s over thirty years of experience in South Texas has enabled them to establish strong relationships with regional service companies, creating an edge over its peers.
Over the Last Year...
- Acquired 31 oil and gas leases on approximately 3,550 acres, establishing its largest land position in South Texas.
- Acquired an additional 25% in its subsidiary Production Resources, Inc. to now own 100% of PRI. PRI is the operator of Nexera’s 540 oil wells.
- Formed Nexera Energy Services, Inc. to engage in plugging inactive oil wells within and outside Nexera, creating a new line of revenue for the Company.
- Purchased Cotulla Vacuum Services, Ltd oilfield service and environmental equipment to support its existing operations and new well plugging business. This acquisition will make Nexera more efficient, as it will have the capability to transport its own equipment at any time needed and at no cost.
- Renegotiated a pricing contract with its oil gatherer whereby it receives WTI plus bonuses for premium oil.
- Established a new royalty structure for its LaVernia leases which is significantly more attractive to the Company.
- Grew its technical team with the addition of a new geophysicist to target potential high impact wells.
- Successfully drilled the Company’s first high-impact horizontal well at the Stockdale Horizon prospect in South Texas
- Successfully drilled Huebinger E1 at Wooden Horse using the Company’s new drilling methodology to target the productive Austin Chalk formation
- Successfully drilled new Huebinger E2 well with Alliance Petroleum Interests