Nostra Terra Oil & Gas Company PLC CEO Paul Welch recently shared insights into the company's latest developments and strategic direction. In a move to enhance profitability and streamline operations, Nostra Terra is divesting assets in South and West Texas to concentrate resources and investments in East Texas, specifically the Pine Mills Field.
Welch, who stepped up as CEO recently, highlighted the potential to double production by revitalizing existing wells in the Pine Mills Field, a primary asset for the company. This strategic shift aligns with the appointment of James Newman, a new board member whose extensive experience in rejuvenating mature assets complements Nostra Terra's goals.
According to Welch, the company sees the potential to double production by turning on wells that have been shut in for some time. This strategic direction, coupled with updated company presentations and plans for future expansions, sets a promising trajectory for Nostra Terra.
The company's divestment strategy involves selling off assets in South and West Texas to concentrate resources and investments in East Texas. This move aims to enhance profitability and streamline operations, with a focus on long-life conventional production in the region.
