Strategic American Oil Corp. (SGCA) Announces Increased Production at North Point Bolivar Field
Strategic American Oil Corp. just announced that it has successfully reworked and increased production from its State Tract 343 No.18 well located in the North Point Bolivar Field in Galveston Bay, Texas. Well production has more than doubled its original daily rate since the rework operation, resulting in additional monthly revenue of approximately $30,000 to the company. According to the press release, the company has many more wells awaiting recompletion or rework and is already executing its plan to bring on the latent production. Management anticipates increasing the company’s production beyond 1,000 barrels of oil equivalent per day (boepd) by…