Nostra Terra Oil and Gas has begun production at two Texan wells.
Drilling operations were successfully concluded on the initial test wells of the Don Pedro and San Miguel prospects.
In addition to the encouraging hydrocarbon shows, Nostra Terra said more wells are being planned.
Chief executive Matt Lofgran, said: “We’re encouraged by what we encountered in the drilling and completion of the initial wells on each prospect.
“Our focus remains on producing or near-term producing assets, offering good economic returns at current oil prices.”
“The Paw Paw prospect, for example, where Nostra Terra is operator and in partnership with Koch Industries, is one such opportunity. The economics of the prospect continue to be very appealing even at today’s further depressed oil prices.”