ST. PETERSBURG, Fla., May 10, 2011 /PRNewswire/ -- US Natural Gas Corp (OTCQB: UNGS), an energy exploration company with operations in the Appalachian Basin is pleased to announce that it has completed the rework procedure on the Detweiler No. 1 well located in Hart County, KY. In addition, the Company has completed the installation of its newly acquired Knox Western compressor in Wayne County, West Virginia.
The Detweiler No. 1 well was drilled in the early 1960s to a total depth ("TD") of 1050', versus the previously reported 950', with production occurring from the Coniferous formation. Production had recently slowed in the Detweiler well due to debris in the down-hole pump. After re-entry, the rods and pump were pulled and the down-hole pump was completely rebuilt with new cups, balls and seat. The well was placed back into production with pressure and fluid recovery commencing. After completion of the rework procedure, the Company anticipates the Detweiler No. 1 will produce on average 2 BOD.
The Company has moved its work-over rig to the Thompson No. 1 well located on an adjacent leasehold and initiated the re-entry procedure. At present, the Company anticipates it will be required to remove and or replace the rods, tubing, down-hole pump, working barrel, and cups on the No. 1 prior to placing it back into production. Upon completion of work on the Thompson well, the Company will relocate back to the Detweiler leasehold where it will bail select wellbores to determine the fluid content down-hole. The Company anticipates that it will place at a minimum five of the open holes into production.
US Natural Gas Corp WV's newly acquired Knox Western compressor, cooler, and auto transformer have been installed and are undergoing final stages of testing prior to flowing gas to Columbia Gas Transmission. The Company anticipates the commercial sell of natural gas production will resume this week.
"We look forward to the results as we bail each of the open wellbores on the Detweiler farm. We anticipate our production on this lease will increase three to four fold once the remaining wells capable of delivery are placed into production," stated Wayne Anderson, President of US Natural Gas Corp. "The installation of our newly acquired compressor should help boost our daily production and give us further capabilities for bringing additional wells online. Our leasehold base in West Virginia lends us tremendous opportunity for additional reworks and new drilling."
About US Natural Gas Corp
US Natural Gas Corp is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia with core assets consisting of 17,000 acres of mineral rights leases and interest in approximately 150 oil and gas wells. www.usnatgascorp.com
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2010.
US Natural Gas Corp
Shannon Bell, Executive Assistant
SOURCE US Natural Gas Corp