The Terryville properties currently produce approximately 13 boepd and were part of the recently acquired Vistatex portfolio. The purchase value attributed to the Terryville properties was approximately SEK 1.5 million.
The Vistatex Portfolio contains 182 producing wells from a diversified portfolio of Oil, Condensate and Gas produced in Arkansas, Louisiana, Mississippi, Oklahoma and Texas. The portfolio contains multiple opportunities for Dome to realize profits from divesting non-core assets without impacting the Company’s development program or upside potential.
“Dome has a proven development strategy, we do not embark on high risk and expensive exploratory drilling projects,” noted Paul Morch, Dome’s CEO. “When we purchased Vistatex we did so for the production, low-risk work-overs, recompletions and PUDs. Terryville contributes less than 1% of our total production and will not affect our reserves. We have more leases in the same area and are currently reviewing these.”