How does it work ?

It can be broken down into 4 phases:

Phase 1

Exploration

Phase 2

Moving Into Production

Phase 3

Production

Phase 4

Restoration & Decom.

Phase 1

Exploration

Cannon Operating uses the latest technology such as 2D and 3D seismic surveys, subsurface mapping, electro telluric testing and radio metrics imaging. Once the location is determined to have productive capabilities, acreage will be leased. Then a pad site will be built, and a rig will move in to drill.

Phase 2

Moving Into Production

After drilling the well to the total depth, it will be logged. The log will evaluate every foot of the well bore. If the well is determined commercially productive, a completion procedure will be designed for the particular interval to be produced. Water, chemicals, equipment, and materials will be brought on and off site and waste water carried away for treatment and disposal. At this point in the process, Cannon Operating will report to you that the well is productive and prepare to sell oil and or gas on the location.

Phase 3

Production

At this point, the well has been drilled, tested and completed. The well is pumping oil and or gas into storage tanks and or pipeline. Revenue will be generated and distributed for all hydrocarbons produced from the well. Production revenue usually runs 60 to 90 days in a rear depending on the purchaser. Oil produced in our core areas are sold based on the W.T.I.

Phase 4

Restoration & Decommissioning

Cannon Operating is committed to ensuring that future generations have a clean and hospitable planet to live. So, many years into the future your well will enter phase 4 of its life. Meaning, that the well has produced all of the hydrocarbons that it has available and is no longer financially viable to produce. We have two options. Either we will convert the well for a waste water disposal, or we will restore the well site to its original condition. Including, making wells safe for abandonment and the removal of surface installations.

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Texas Alliance of Oil and Gas Producers