Hinto Energy reported a rework program on its Uintah Basin deep gas well due to the presence of significant amounts of high value Natural Gas Liquids (NGLs).
George Harris, the Company's Chief Financial Officer, said, "Hinto had originally planned to add the well head and tubing string at a later date, but due to the greater than expected volume of high value NGL liquids encountered, we have accelerated the timing of this work. By completing this work ahead of schedule, we believe we will be able to increase production at the Uintah Basin and increase shareholder value."
Hinto plans to acquire additional potential oil and gas acreage and reserves as well as expand production of natural gas and oil, primarily in the Central Rockies. Further information regarding the Company can be found at the Company's website and in Reports on Form 8-K, 10Q and 10K, filed with the Securities and Exchange Commission.