Permian
Sterling owns interests in two mature fields with established production and shallow decline rates in the Permian Basin; the Windham field located in Midland County, Texas and the Langlie Mattix Field in Lea County, New Mexico. Multiple in-fill drilling locations have been identified on both fields. The Windham field was discovered and developed in the early 1990s and produces from the Devonian and Penn formations at 11,000 feet and 9,000 feet respectively, Sterling owns a 53% working interest and has identified 7 proved un-developed in-fill locations. The Langlie Mattix field is an established Seven Rivers water flood unit with production depths from 3,500 feet to 4,000 feet and Sterling own a 75% working interest in the unit. Portions of the field have been down-spaced to 20-acres and 19 down-spaced in-fill locations have been identified which will complete the southern portion of the unit.
