Operations
Altoona Lease: Midway Sunset Oil Field, Kern County, California
Midway Sunset Oil Field, located in the San Joaquin Valley in California, has produced in excess of 3 billion barrels of oil since first production initiated in 1889.
Chevron Corporation has been operating in the San Joaquin Valley for over 100 years and its interests in the area represent its core, onshore USA assets.
The Altoona Lease is a highly unique opportunity for a small company to benefit from substantial investment and de-risking of the target opportunities by a major company.
Surrounded by Chevron on 3 sides, the project is a direct beneficiary of the infrastructure and pipelines built to service Chevron’s production in the area.
| Partner | Equity | Paying | Profit Share |
| YFP (Operator) | 69.0% | 22.5% | 41.9% |
| New Age | 12.8% | 32.1% | 24.1% |
| EER | 6.8% | 16.8% | 12.6% |
| PetroNor | 6.5% | 16.3% | 12.2% |
| ADM Energy | 4.9% | 12.3% | 9.2% |
Midway-Sunset Oilfield at a Glance
produced since discovery
Estimated reserves (2008)
Oilfield is discovered
Analog Field Study Indicates Significant Potential
Altoona:
- Discovered in 1915
- 20 Acres
- 5 MM BBL- OOIP
- Less than 1 MM BBL Primary Production
- Never properly developed on secondary basis
Pru Fee Lease:
- Discovered in 1915
- 40 Acres
- 10 MM BBL – OOIP
- 2.44 MM BBL Primary Production
- 6.6 MM BBL produced AFTER enlightened development programme implemented
- 9.2 MM BBL cumulative production (2017)
Recent Nearby Chevron
Drilling Results
Note: Production as reported by Chevron to State of California CALGEM website.
