Cardinal provides a unique opportunity for accredited individuals and institutional investors to directly participate as a joint venture partner in our “Remediation Joint Venture Projects” in the reliable Clinton Sandstone and other prolific formations throughout the Appalachian Basin. Cardinal serves as the oil and gas operator and producer of each project, providing the oversight of the programs, including selection of work-over prospects, scheduling services, arranging the sale of the commodity and all back office accounting functions.
The Joint Venture Remediation programs consist of wells previously drilled to prolific formations and produced by a variety of operators. Many of these wells were drilled during the boom time of the early 1980’s. Newer production theories and technology make it possible to re-enter these older wells that have been ‘walked away from’ by their original operators. It has often been thought that only about 25% of the original oil and natural gas in place could be produced by these initial efforts. With roughly 75% of the commodity still in place, it only makes sense to recover the stranded reserves.
Every oil & natural gas well involves a different set of circumstances relative to remediation. Our direction towards remediation requires a detailed study of each individual well. Techniques that prove successful for one well may not work on the next. Techniques used on individual wells may include re-perforation of well bores and re-fracturing or acidizing of producing zones. A service rig is used for the removal of the existing down-hole equipment, removal of sand and debris along with the removal of fluids from the well.