Cranston Saltwater Disposal Well by Laredo Oil is Now Active

Cranston Saltwater Disposal Well Operational
Laredo Oil, Inc. (OTC Pink Sheets: LRDC), an oil exploration and production company, is thrilled to announce that the Cranston Salt Water Disposal (SWD) well is now fully operational. Situated in the West Fork Prospect Area, this facility represents a pivotal development for the company, significantly optimizing its water disposal mechanisms.
Significance of the Cranston SWD Well
Mark See, Chairman and CEO of Laredo Oil, shared insights on the Cranston SWD’s importance. The operational status means that saltwater is now effectively being processed, thanks to recent upgrades and all necessary permits obtained for this well, which was acquired alongside Texakoma Exploration & Production Company. This advancement alleviates a previous obstacle, paving the way for heightened field production in the near term.
Facilitating Increased Production Capacity
With the commissioning of the Cranston SWD, the company is well-positioned to address the disposal needs of five currently drilled and completed shut-in wells. The immediate availability of this cost-effective water disposal solution enhances the production potential as Laredo Oil moves forward with its operational plans.
Expansion Plans and Future Prospects
Laredo Oil is exploring further enhancements to its operational capabilities. As needed, they will convert two additional shut-in saltwater disposal wells acquired with Cranston, aimed at providing necessary capacity for Texakoma and Lustre, who are gearing up for their respective drilling programs. The ambitious plan includes drilling nine additional wells, designed to increase overall production significantly.
About Laredo Oil Inc.
Laredo Oil, Inc. is committed to acquisition and exploration efforts in mineral properties, primarily within markets that showcase growth potential. The company focuses on locating mature oil fields to recover stranded oil, employing enhanced recovery methods. Laredo Oil's common stock is currently traded on the Pink Sheets under the symbol LRDC, reinforcing its status in the oil exploration sector.
Frequently Asked Questions
What is the significance of the Cranston SWD well for Laredo Oil?
The Cranston SWD well plays a crucial role in allowing Laredo Oil to manage saltwater disposal efficiently, which is essential for boosting production rates.
How does the operation of the Cranston well impact current projects?
The operation enables a cost-effective solution for disposal, thus facilitating the resumption and expansion of other drilling projects in the region.
What are Laredo Oil's future plans regarding production?
Laredo Oil plans to drill nine additional wells, further increasing its production capabilities and operational effectiveness through strategic planning.
Who is leading Laredo Oil?
Mark See serves as the Chairman and CEO, guiding the company through its strategic initiatives and operational advancements.
What is Laredo Oil's approach to oil recovery?
The company aims to use both conventional methods and innovative enhanced recovery techniques to maximize oil extraction from their properties.
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