When Nations Energy acquired a 100% interest in the Northwest Lost Hills, California, heavy oil field, it was a completely greenfield development — there was no production, steam flood infrastructure, nor central processing facilities. Within 5 years, production reached 4,000 barrels of oil per day.

At the time of acquisition, there were approximately 900 wells, but only 300 of them were producing. Nations Energy executed an extensive well repair and recompletion program as well as installing new water separation and reinjection facilities in order to fix historical pipeline corrosion problems.

The most significant of the Nations Energy’s three past developments was the Karazhanbas Field in Kazakhstan. Acquired in 1997, Nations Energy invested US$500M over the next ten years to rehabilitate the oilfield, establishing production of 50,000 barrels of oil per day.