Kabe Exploration Inc. announced Jan. 16 that Fortune Oil & Gas Ltd. will be the operator in a proposed development of up to 50 horizontal oil wells in the Mississippian Lime play in Cowley County, Kansas.
Based in Willis, Texas, Fortune Oil & Gas is a registered operator in Kansas, Texas and Louisiana. The company will be engaged in the upstream activities of developing and operating production for Kabe Exploration in the Mississippian Lime oil development.
Led by Fortune Oil & Gas president Russell Vera, the company’s operational team has extensive experience in the application of technological advances, such as fracture stimulation design, to develop oil and gas reserves.
Mississippian Lime horizontally drilled wells show the potential for 300,000–400,000 barrels of oil equivalent (Boe) per well at relatively shallow drilling depths of approximately 4,000 feet, with a high oil quality of 35–38 °API gravity.
Kabe Exploration’s primary goal is to increase the value of acquired assets through a combination of exploration, horizontal drilling, and proven engineering extraction processes. It strives to grow and develop acreage holdings by working with industry partners to increase production and reserves while controlling costs.
With the appointment of Fortune Oil & Gas as operator for the Mississippian Lime acreage, Kabe Exploration is continuing to form a comprehensive management team with proven engineering and operational expertise for the planned oil development.