AXP Energy has a primary operations focus in developing the Florence oil field where it has approximately 3900 acres held by production with a total field area of approximately 55,000 acres. Historically developed as an oil field, the deeper formations hold significant oil and gas reserves.
The current focus is the development of a sales channel for the gas through electricity generation. Once this can be achieved, the opportunity exists to unlock the full value of the field.
With AXP’s involvement in the Florence field the first horizontal well was drilled on the Pathfinder well pad in 2012. The Pathfinder #2 well was drilled to a total measured depth of 9,870’ nearly doubling the length of the deepest well in the field.
AXP established a technical partnership with Schlumberger and Radial Drilling Services, drilling 2 vertical wells with multiple radially drilled 300’ laterals.
This new technology was applied in the JW Powell and Amerigo Vespucci wells in 2019. Although certainly not the first radially drilled wells, the technology partnership resulted in a new stimulation method combining radially drilled and perforated laterals with specialized hydraulic fracturing. This newly developed stimulation method was presented in the 2020 Society of Petroleum Engineers (SPE) Western Regional Meeting and memorialized in SPE Manuscript SPE-200837-MS.