Hunter Oil owns and operates a de-risked horizontal re-entry development opportunity, utilizing proven unconventional technology to maximize recovery of significant reserves in a historic oilfield producing from the San Andres formation of New Mexico’s Permian Basin.
At the heart of Hunter Oil Corporation’s success lies a commitment to consistent operations and field maintenance of a long-term recoverable reservoir. Our unique positioning of land holdings and historic production enables our HBP asset status.
Hunter owns and operates two large, historic oil fields in New Mexico, the Milnesand and Chaveroo, which together comprise 22,000 gross acres. The Permian Basin in the state of New Mexico produces more oil than any of the other eight Rocky Mountain states, and is quietly unearthing more than 147 million barrels of crude oil annually.
The historic Milnesand and Chaveroo fields have proven to be ideal candidates for today’s horizontal drilling technology. Originally accessed vertically in the 1950’s and 60’s, the resources in these fields have yielded more than 37 million barrels to date. This yield ratio is due to the high porosity dolomite formation of the region; however, the low permeability of the rock means that the historical production produced only a very small amount of the OOIP, leaving the field highly productive and responsive to horizontal drilling and exploitation.
It is this historical legacy of vertical drilling that undergirds our strategy at Hunter Oil: the reservoir has been thoroughly documented and proven, and the infrastructure, roads, electrical and pads are already in place, allowing Hunter to access the vast remaining reserves with today’s horizontal and fracturing technologies, and to do so at a low lifting cost and with very little surface impact or cost.