Recall that last April Modiin acquired 10% of the rights in the Chittim Ranch project, located in the southern state of Texas in the USA. The project covers an area of 650 km2 (160,000 acres) of proven oil and natural gas system, covered by a three-dimensional seismic survey, and today There are 8 producing wells, with the average daily production rate for 2021 being about 150 barrels of oil per day.
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Last week, Modiin released a preliminary conditional reserve and resource report for the project, which spans the Eagle Ford Basin in Texas, one of the major areas for U.S. oil and natural gas production, with thousands of wells drilled in recent years and advanced oil and natural gas transmission infrastructure. Production tests for natural gas purposes, published today.