SAN JOAQUIN BASIN, CALIFORNIA
Western Energy Production’s San Joaquin Basin focus area includes both the highly sought after shale targets, the Monterey, Tumey, Kreyenhagen and Moreno, as well as conventional opportunities. Over several years, our experienced geology and geophysics team identified prospective trends with significant oil in place. Our land team has amassed one of the largest acreage positions in this part of the basin; over 200,000 gross acres, 125,000 net, across Kern, Kings and Fresno Counties.
Western has entered into several agreements to develop significant portions of this acreage. The largest Joint Venture Agreement covers in excess of 85,000 net acres, wherein Western has partnered with AERA Energy (Exxon Mobil/Shell) to operate and develop the resource. Aera Energy LLC is one of California’s largest oil and gas producers, accounting for approximately 25 percent of the state’s production, and the #1 privately-held oil and gas company in the United States. AERA was formed in June 1997 and is jointly owned by affiliates of Shell and ExxonMobil. AERA has permitted five wells on this acreageand has recently spud two wells; Aera Brooks#1, which spud September 15, 2102, and the Aera Brooks 811a-4, which spud on February 10, 2013. Both of these wells are in Section 4 of T27S R22E in Kern County, California.
In addition to the Joint Ventures already in place in the San Joaquin Basin, Western currently has over 25,000 net acres leased, where it owns a 100% interest, and is pursuing various JV opportunities.