Duma Energy Corp. has successfully started production from the first project in its 18-well development program in Galveston Bay, Texas. The Trinity Bay State Unit #37 is currently flowing an average of 89 barrels of oil per day (bopd). At current oil prices and production rate, this will realize Duma more than $2 million in additional annual revenue.
The program entails laying modern flow lines to re-establish production from three wells in the northern portion of Trinity Bay Field, one of four oil fields that Duma operates in its 18,000-acre Galveston Bay portfolio. It is anticipated that additional wells will be brought into production in the next 60 days, significantly increasing company cash flow.