News

June 18, 2009

Resaca Exploitation Gets Production Moving Again After A Deferral of Its Work Programme While Commodity Prices Recovered

The Permian Basin of West Texas and New Mexico has been one of the largest and most prolific oil and gas producing basins in the US, having produced over 24 billion barrels of oil since its discovery in 1921.

Not a few E &P companies believe that the basin has still some way to go in what it can produce. We wrote recently that Caza Oil & Gas is just about to launch an eight well programme in New Mexico and Texas drilling with its new partner, Endeavour International. Resaca Exploitation is another small group listed on London’s AIM who believes that it is possible to build substantial production over time from the Permian Basin

Where Resaca differs from other juniors, apart ...