Lafayette, Louisiana-based White Knight Production recently acquired producing oil fields in California’s San Joaquin Basin.
White Knight Production will manage the fields, which consist of multiple stacked reservoirs across 11,500 net acres and produced approximately 430 net barrels of oil equivalent per day (97 percent oil) during the first quarter of 2015.
The assets consist of three proximally situated oil fields in Fresno County, within the San Joaquin Basin, which has supported major oil and gas extraction for more than a century. The fields have aggregately produced more than 120 million barrels of oil since being discovered in the 1940s.
White Knight Production plans to expand the existing production and reserves through drilling, workovers, and enhanced field operating efficiency.
“This acquisition, which is the first for White Knight Production, represents precisely the value opportunity we set out to realize at our founding, with profitable field operations, numerous options for low-cost optimization, and upside potential through continued exploitation drilling and the application of modern technology,” says CEO Jerry Wenzel.
White Knight Production, a private independent oil and gas company, was formed as a partnership between Bayou City Energy L.P., White Knight Resources LLC and a legacy White Knight individual investor, Benton Knobloch.