Reserves estimate rises at Nighthawk's Xenia asset

US focused hydrocarbon development and production company Nighthawk Energy said the reserves estimate at its 50% owned Xenia project in Kansas has been increased.Independent consultant Oilfield Production Consultants (OPC) has made a gas reserve evaluation and calculated gross proved, probable and possible (3P) reserves over 6,000 acres at 15.26bn cubic feet (4.88 billion cubic feet net to Nighthawk)."The results and cash flow from Xenia are contributing significantly to the overall economics and development of the combined Revere project. OPC has completed an excellent report, confirming and increasing the figures provided by the initial review undertaken by Running Foxes," said David Bramhill, managing director of Nighthawk.Nighthawk and Running Foxes, its joint partner in the Xenia project, have purchased 3,250 acres in Bourbon County, known as the Green Valley project. This acreage will now form part of the Xenia project.The new project area has two shut in wells in place drilled by the previous operator in 2008. During drilling the wells flowed in excess of 100m cubic feet of gas per day, but the oil was not extracted due to the lack of a pipeline.The acreage is adjacent to the recently commissioned Xenia pipeline and Running Foxes plan to complete the well closest to the pipeline within the next 30 days and place on production.