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HINTO ENERGY
HINTO ENERGY, INC. DEVELOPS PROPRIETARY TECHNOLOGY TO INCREASE OIL PRODUCTION
AND RESERVES
DENVER, CO--(Marketwired - March 17, 2015) - HINTO ENERGY, INC. (OTCQB: HENI),
engaged in the exploration, acquisition, and development of oil and gas
properties, with producing wells in Ohio, Utah and Montana, today announced the
Company has been developing a new proprietary technology that will enhance
production and increase reserves of both newly drilled and existing oil and gas
wells. The technology is engineered to drill multiple very short radius lateral
bore holes from a vertical well that extend out to a maximum of 300 feet,
although there is significant support documenting enhanced well productivity
with laterals as short as 10 feet.
"Hinto has been evaluating technologies that will enable the Company to extract
greater quantities of oil and gas from new and existing wells, while also
substantially increasing reserves. This technology has gained in importance
given recent lower oil and gas prices and the company is accelerating its
program to begin working on Company wells," stated George Harris, the Chief
Executive Officer of the Company.
Companies utilizing similar types of technology, such as Buckman Jet Drilling,
Inc. have indicated that completion of 30 to 100 foot laterals can increase
production by "50 to 200 percent in new wells and 100 to 1000 percent in
stripper wells" and "can replace hydraulic fracturing in some cases". In the
report "Effect of Multiple Laterals on Well Performance", prepared by Joshi
Technologies International, Inc., the potential to increase production and
associated reserves by 80 to 620 percent by drilling three, fifty foot laterals,
as compared to a comparable vertical well that is normally perforated or
produced open hole is indicated. The potential gains in production and reserves
is based on oil zones twenty or fewer feet in thickness, adjusted for vertical
permeability, skin damage, well diameter and other factors.
"The Company has been developing this downhole completion technology over the
past 30 months and is very excited about the potential to unlock added
production and increase reserves from its own existing wells, as well as from
new wells and properties. This technology has the potential to bring old wells
that meet the right parameters to near new well production levels. The key is
identifying the wells/fields that meet the criteria," Harris continued.
Hinto Energy, Inc. is involved in the acquisition, production, development and
exploration of Oil and Natural Gas properties. The Company is actively seeking
to acquire producing oil and natural gas properties that offer long term proven
oil and natural gas reserves and that are candidates for the new technology. The
Company employs state-of-the-art technology for reservoir characterization, to
discover by-passed reserves, and to evaluate unexploited resources utilizing
modern horizontal drilling techniques. For more information visit
www.hintoenergy.com.
5350 S. Roslyn Street, Suite 400, Greenwood Village, Colorado 80111
Tel: (303) 647-4842 Fax: (303) 848-8353
www.hintoenergy.com
HINTO ENERGY
DISCLAIMER:
These equations used in this work assume homogenous, constant compressibility
reservoirs. The calculations are representative of conditions in real fields,
but will not exactly predict any particular field.
NOTICE REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned
that such forward-looking statements involve risks and uncertainties, which
include among others, the inherent uncertainties associated with petroleum
exploration and development stage exploration companies including without
limitation, other risks detailed from time to time in the company's periodic
reports filed with the Securities and Exchange Commission.
Contact Information:
Hinto Energy, Inc.
Gary Herick, Vice President - Finance
5350 S. Roslyn Street
Greenwood Village, CO 80111
(303) 647-4850
5350 S. Roslyn Street, Suite 400, Greenwood Village, Colorado 80111
Tel: (303) 647-4842 Fax: (303) 848-8353
www.hintoenergy.co