Louisiana East Lake Verret (“ELV”) field
|Concession End Date||Ongoing|
Interests in the ELV field were originally acquired by Meridian Petroleum in July 2008. It is located in shallow, inland waters in Assumption Parish, 35 miles south of Baton Rouge in Louisiana and was originally discovered by Humble (now Exxon) in 1952.
The field produces both light sweet crude oil and natural gas from two above water wells, one of which is the Simmons well and the other of which is the Triche well.
Working Interests are respectively approx 43.9% and 70% for these two wells with additional income arising from the Triche use of field processing facilities owned wholly by President.