VANCOUVER, British Columbia, June 28, 2018 (GLOBE NEWSWIRE) — via NetworkWire — Hunter Oil Corp. (TSX-V:HOC) (OTCQX:HOILF) (the “Company” or “Hunter”) provides an update on operations and continues preparation of present oil field lease holdings of 23,000 acres in Chaves and Roosevelt counties, New Mexico.
Hunter confirms that its wholly-owned subsidiary, Ridgeway Arizona Oil Corp., has received approval from the New Mexico Oil Conservation Division for the five drilling permits it filed on June 11, 2018. These planned new well site locations are designed as 1-mile-long horizontal wells targeting the San Andres formation in Hunter’s Chaveroo Field.
Hunter has entered into a long-term lease for 20 surface acres located at its current field office in the Milnesand Field. This additional acreage will be used for expansion of its supplies and pipe yard, warehousing quantities of drilling preparation materials for the Company’s upcoming drilling program.
About Hunter Oil Corp.
Hunter Oil owns and operates two large, historic oil fields in the Permian Basin of eastern New Mexico – the Milnesand and Chaveroo fields. Historical production of these two fields is approximately 40 million barrels. The Company plans to unlock the value in these resource-rich fields by leveraging existing infrastructure, lowering operating costs and increasing efficiencies of its operations.