Flowtex Energy recently entered into two partnerships that will focus on drilling new wells in central Oklahoma and southeast Texas.
Flowtex Energy will partner with Edmond, Okla.-based Emerald Natural Resources Group Inc., a provider of drilling and consultancy services to the oil, gas and geo-thermal sectors. Together with the Emerald NRG team, Flowtex Energy will focus on developing proven oil fields in central Oklahoma.
“Oklahoma is a top oil producing state and accounts for 3% to 4% of the country’s crude oil total each year, and central Oklahoma in particular is home to one of the nation’s 100 largest oil fields,” Beau Flowers, president and CEO of Flowtex Energy said in a statement. “This partnership with Emerald NRG fits perfectly with our innovative outlook, scientific approach, and rigorous due-diligence process, and empowers us to enhance our track record of success in the region.”
Flowtex Energy also will partner with Buna, Texas-based H.E.X.T. Operating LTD, a provider of oilfield services. Together with the H.E.X.T. team, Flowtex Energy will focus on developing oil wells in the Spindletop area of southeast Texas.
“In 2014, Texas alone produced over 730 million barrels of crude oil, and almost 7 billion MCF of natural gas,” Flowers said. “This partnership with H.E.X.T. demonstrates our commitment to actively researching and developing new sources of oil and natural gas, constantly improving our methods, and meeting our high standards.”
The company expects to begin drilling in Oklahoma and Texas in the second quarter of 2015.