Focusing on the Core: Areas, Competency and Strengths
Camber Energy continues to exploit the development and production of oil, natural gas liquids and natural gas from its existing and potential asset base. We are following a strategic path of acquiring properties in areas with geology and returns where we can leverage our technical competence, knowledge, and database.
Minimized Geological Risks and Low Entry Costs
Our active development is concentrated in plays with low geological risk, putting us in an enviable position when combined with excellent well control, statistically predictable results, low cost of entry and long-lived reserves.
Our well-positioned Oklahoma play represents robust potential from our liquids-rich, low-decline reserves. The Hunton formation is a limestone play characterized largely by high-quality natural gas and liquids production. Camber controls approximately 10,000 net acres across Lincoln, Logan and Payne counties, and the majority of our undeveloped acreage is held by production (HBP).
In addition to the drilling locations that we have identified in the Hunton, we are reviewing other potential producing horizons and have the opportunity to expand our leasehold in additional prospective formations to the east.
Through the acreage acquired with the Segundo Resources transaction in August 2016 and the San Andres transaction in January 2017, we now hold over 4,130 net acres in the Permian Basin. This includes a minority working interest in over 500 net acres in Glasscock County, Texas, where there are 21 active wellbores, and a 90% working interest in 3,630 net acres in the Central Basin Platform of the Permian Basin, targeting the horizontal San Andres drilling opportunity. Drilling is expected to commence in the second half of 2018, following the acquisition of additional acreage.