Sheep Springs Field

(100% working interest)

IOG acquired 200 acres within the Sheep Springs oilfield in January 2010.  Sheep Springs is situated adjacent to the Cymric Oil Field in the San Joaquin Basin, west of Bakersfield and produces both oil and gas at commercial rates.  Production from this field has had very low decline rate and has strong economics with low lifting costs.


Sheep Springs consists of 8 producing wells and has multiple stacked pay zones (see below). An east-west cross section below through the IOG leases illustrates the multiple oil-filled reservoirs (in green) in the area.
 




The properties of the reservoirs shown in the cross section above are summarised below: 

RESERVOIR NAME Tulare 21 sand Fitzgerald Monterey First Carneros Main Carneros Phacoides Oceanic
Discovery date 1948 1929 1948 1984 1944 1944 1952 1947
Initial flow rate (bopd) 12 15 15 15 388 180 62 100
Initial reservoir pressure (PSI) 400 760 800 1040 1200 1200 2650 2700
Average depth (ft) 1420 2200 2450 2650 3300 3400 4600 4700
Average net thickness (ft.) 65 75 50 20 40 150 35 50
Porosity (%) 31 18 23 46 32 34 28 18
Oil saturation (%) 65 65 56 50 70 70 70 55
Average permeability (md) 800 300 700 1 600 1300 700 40
Oil gravity (API °) 12 15 16 21 24 25 33 41


Virtually all of the current production is from the Carneros reservoirs. Incremental has no present plans to drill additional wells into these zones. The shallower ‘21’ and Fitzgerald reservoirs also have considerable future development potential, primarily involving steam injection to decrease the viscosity of the heavy oil.