HOUSTON--(BUSINESS WIRE)--Horizon Energy Corporation (OTCQB:HORI) today announced its project team is preparing to begin workover operations at Holmes Oil Unit Number 1 in Cherokee County, Texas. This comes on the heels of a joint operating agreement with Ponta E&P, LLP, to begin exploration in that group of oil and gas leases on 82.89 acres in the East Texas counties of Cherokee and Rusk.
The project with Ponta E&P, LLP is the first in Horizon’s ongoing efforts to explore, develop and produce oil and gas in East and South Texas, and the partners have moved quickly to schedule the required equipment and services at the wellsite and commence operations within the coming days.
“Horizon is very pleased about partnering with Ponta and we look forward to success on this initial project and to additional joint projects in the future,” said Robert Bludorn, President and CEO of Horizon Energy Corporation, commenting on the venture.
Throughout East Texas, operators such as Anadarko Petroleum Corp (NYSE:APC) are returning to fields and successfully engaging horizontal drilling and hydraulic fracturing to stimulate wells and target areas that have long been overlooked or hardly tapped. As East Texas oil and gas prospects begin to come back to life, a successful natural gas well was recently drilled in Rusk, Texas in an area that was thought to be long played out, with preparations to drill horizontally near the same East Texas formation that helped H.F. Hunt build his energy empire in the 1930’s.
About Horizon Energy Corporation
Horizon Energy Corporation was incorporated in the state of Wyoming in 2010. Its business model and scope of operation includes traditional and nontraditional energy sector opportunities. It is currently in the business of acquiring, discovering and developing oil and gas properties.
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