Cenco, Inc., an independent oil and gas production company, is actively engaged in the onshore Miocene trend across south Louisiana. Its mission is to concentrate on wells previously drilled with pay zones - either missed or overlooked - that prove commercially productive through today's technological advancements.
In 2004, Cenco began its search in south Louisiana, including Vermilion Parish and the surrounding areas. In 1986, two miles northeast of Kaplan, Louisiana, Petrus Operating Company of Dallas, Texas, drilled a well known as the Broussard #1 to a depth of 20,619 feet. After reaching total depth and running several Schlumberger logs, Petrus concluded that the Camerina, a 250-foot oil and gas sand between 17,650 and 17,900 feet, was too tight for commercial production. It was then plugged as a dry hole.
In May 2007, 21 years later, Cenco re-entered the Broussard #1 and completed the Camerina between 17,790 and 17,860 feet within four years, the Broussard #1, had produced 306,454 barrels of oil and 9,274,563 MCF of gas. After deducting severance taxes and operating costs, revenues totaled $46,194,000, or five times the initial costs of $8,318,875.
With this success, Cenco broadened its search to include all of south Louisiana. Approximately 2,000 wells have been screened, with several identified as future re-entries and/or prospects. One such prospect is in the beginning stages of development and another should be re-entered within the next few months. Cenco believes these two prospects, as well as others, may result in wells with revenues equal to or greater than the Broussard #1.
Under the management team of Charles Lehwald, Ken Adcock, and Robert (Bob) Olson, who combined have more than 100 years experience in oil and gas exploration. They have spent an inordinate amount of time and thought in reviewing and recommending the current prospects. We would be pleased to share the search and recovery of undiscovered commercial oil and gas reserves with you.