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Schlumberger to carry out New Mexico oilfields evaluation

Oilfield Technology,

Enhanced Oil Resources Inc. has announced that it has entered into a Letter of Intent with Schlumberger Technology Corporation (Schlumberger) whereby Schlumberger will conduct an in-depth technical evaluation of the potential redevelopment of the Milnesand and Chaveroo oilfields, located in Chaves and Roosevelt Counties, New Mexico.

Schlumberger will use in-house experts in primary, secondary and tertiary recovery with the ultimate goal of deciding the best way forward, if appropriate, to recover additional oil reserves contained within these fields.

The company has agreed to pause the redevelopment of the fields for a period of up to six months while the study is underway. Based on the results of the study, Schlumberger will decide whether to assist EORI in redevelopment of the Milnesand and Chaveroo fields under a comprehensive services agreement to be negotiated by both parties.

Barry Lasker, CEO and President, stated: "The company is very pleased to be joined with Schlumberger in this study. Schlumberger offers world class technical capabilities and oilfield services that can help the company immensely as it seeks to maximise the oil recovery from these large, legacy oilfields."

Adapted from press release by Katie Woodward

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