Waterflood Prospect
Waterflood Prospect – Jefferson County, IL
SGCA leased an Illinois land position in a previously producing oil field that could host significant in-place reserves which the Company would seek to produce using the Enhanced Oil Recovery method (waterflood). By researching the Illinois State Geological Survey, the Company has discovered the oil field previously produced an aggregate of 1.5 million barrels of oil during the 1940s and 50s. Nearby waterflood operations in the same zones have yielded a 1:1 recovery. The Company has leased approximately 372 acres of the oil field. The Company plans to use existing wells for injection while drilling new recovery wells to 4,000 feet.
