In early November 2022, ASE, in partnership with our project drilling partner, successfully secured the NE Yale Skinner Waterflood Unit—a high-potential oilfield featuring up to four hydrocarbon-rich pay zones. The primary target zone, RedFork, is one of the most prolific reservoirs in the region.
Some of the earliest wells in this area were drilled and completed in the 1950s, long before the advent of modern logging, fracking, and completion techniques. ASE’s strategy is to capitalize on this untapped potential by offsetting and stepping out from existing wells, thereby mitigating risk and maximizing Estimated Ultimate Recovery (EUR) of oil and gas.
The ASE Cherokee Phase 2 is a five-well drilling program that began in November 2023. All wells have now been successfully drilled, and a pressure maintenance process is currently being implemented to enhance oil production and optimize recovery rates.
