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Infinity Energy Resources Enters Research Agreement with Tertiary Oil Recovery Program at the University of Kansas
May 12, 2021 08:00 ET
| Source: Infinity Energy Resources, Inc.

Agreement Provides Engineering and Research Services for Infinity’s Recently Completed Acquisition of Current Production and 11,000 Leasehold Acres in Central Kansas Uplift Formation

Overland Park, KS, May 12, 2021 (GLOBE NEWSWIRE) -- (GLOBE NEWSWIRE) – Infinity Energy Resources, Inc. (Pink Sheets: IFNY) (“Infinity” or the “Company”). An independent oil, gas and helium exploration and development company announced today it has entered into an agreement (the “Agreement”) with the Tertiary Oil Recovery Program (“TORP”) at the University of Kansas to evaluate its prolific reserve potential relative to its recently acquired 11,000-acre oil & gas properties in the Otis/Albert Field located on the Kansas Central Uplift (the “Acquired Oil & Gas Properties”).

The TORP Program at the University of Kansas, under the directorship of Reza Barati (Associate Professor of Petroleum Engineering), was established by Professor Don Greene and Paul Willhite in 1974 and designed to provide technical assistance to Kansas oil & gas producers in applying enhanced tertiary recovery methods for Kansas oil and gas fields. Under the Agreement, TORP will be evaluating the potential reserves and the use of enhanced recovery methods on the Reagan Sand Zone located on the Acquired Oil & Gas Properties in the Otis & Albert Field at an approximate depth of 3,600 feet including secondary zones, and other potential hydrocarbon deposits, from a report finalized by Schlumberger in 2018. TORP will evaluate both current and new engineering methods of Estimated Ultimate Recovery (“EUR “) through modeling and experimental processes, identified by the Schlumberger report and various publicly available databases. TORP is recognized internationally for their state-of-the-art equipment, lab facilities, field equipment, outreach/tech-transfer, and technical support. Infinity’s purchase of the Acquired Oil & Gas Properties included more than 10 square miles of 3D seismic, compiled with multiple logs, drilling data, and reports. The existing datasets will provide valuable information for completion of the TORP evaluation. According to data maintained by the Kansas Geological Survey (“KGS”), the Otis/Albert Field to-date has produced primarily the Reagan Sand Zone with the following reservoir characteristics:

Cumulative oil production: 16 million barrels of oil
Cumulative natural gas production: 180 billion cubic feet
Average Reagan Sand Zone Depth: 3,600 feet
Average Reagan Sand Zone thickness: 0 to 90 feet

John Loeffelbein, Chief Operating Officer of Infinity, stated, “Infinity is extremely excited and honored to partner with such a well-known and highly respected program as TORP. TORP will provide us with very important reservoir evaluations and assistance in the implementation of enhanced secondary recovery methods as we move forward in developing our newly Acquired Oil & Gas Properties. This partnership will help us to accelerate the evaluation and development of the Otis/Albert field to its fullest potential. Infinity will be providing investors with further information and results as we begin our rework program and implementing enhanced secondary recovery on the existing oil & gas producing wells. The existing producing wells on the Acquired Oil & Gas Properties includes one horizontal producing oil well (at an approximate depth of 4,000 feet) in the Reagan Sand Zone, two conventional vertical oil-producing wells and the salt-water disposal system. We plan on beginning this rework in the month of May 2021,” concluded Loeffelbein.

Reza Barati, TORP Director, stated, “It is a great privilege for TORP to be able to work with the Infinity Energy Resources, Inc. on further development of the Otis/Albert field. This project makes us even more focused on our main mission of serving the independent oil and gas operators of Kansas and the region to improve their production from a long list of mature oil fields. TORP, with more than 5,000 ft2 of lab facilities and staff who are experienced working on reservoir characterization/simulation projects, is well equipped to support Infinity with their needs to evaluate potential reserves and the use of enhanced recovery methods.”