Green Century operates in the Texas Permian Basin. The Permian Basin is the largest land-based oil producing region in the lower 48 states, and the number one producing region in Texas.

The Permian Basin has an abundance of high quality oil and gas reserves in most categories: shallow and deep reserves; sands, carbonates, and shales; vertical and horizontal well targets; conventional and unconventional reservoirs; water, natural gas, nitrogen and CO2 floods, etc.  The region also offers top oil & gas technology experts and top quality service companies in abundance.  The Permian is the “hottest” oil field in the US.

Green Century Waterflood Project

Green Century Exploration & Production, LLC,  the operating subsidiary of Green Century Resources, continues to develop a shallow waterflood project in West Texas.  Phase I of the project had a was comprised of 21 new vertical infill wells strategically located on approximately 15 acre spacing to revitalize the leased field.  We have now establish secondary recovery (“waterflood”) operations throughout the vast majority of the field.  Historically, the field yielded solid primary production, but overall primary recovery was low.  The old wells in the project area have been plugged, with only a small pilot flood undertaken in the past.

Green Century Exploration & Production, has fully funded its Phase I drilling and development plan with the help of a small number of non-op industry participants.  Total capital requirements were budgeted at $10 million, and we have brought in the project under budget.  This group continues to fund expansion.

Future Projects

Green Century Exploration & Production has a number of other drilling prospects in the pipeline to help spur growth.  Our Wildcat™ discovery systems allow us to sift through vast quantities of well and production data allowing us to rapidly identify and evaluate oil and gas prospects.  We use these systems to search for prospects with some of the following characteristics, among others:

  • Relatively shallow depth (preferred but not required)
  • Stacked pay zones
  • Behind-pipe pay
  • Conventional reserves that lend themselves to horizontal exploitation
  • Infill and step out drilling opportunities
  • Reserves where modern completion technologies have not been applied but would result in significantly higher recoveries
  • Reserves that have declined prematurely due to mismanagement that can be bought at a discount and revitalized