Azure Holding merges with Vision Oil and Gas
Azure Holding Group completed its merger with Vision Oil And Gas, and will be renamed Vision Oil And Gas. The merger brings with it 102 actively producing oil & gas wells, 241 shut-in wells (of which at least 120 have been identified as a workover candidate) and 42 injection wells spread primarily across 18,300 acres on Tier 3 acreage in Cochran County in the Permian Basin. The merger also brings an additional 31 wells in South Texas located across 6,000 acres in Nueces, Duval, Bee, Webb, Starr and Zapata Counties in South Texas.
Vision Oil And Gas will begin its workover remediation plan to optimize the production across the existing actively producing wells in July 2025, and intends to bring over 120 targeted shut-in wells back online through its first phase of remediation, set to occur between Q3 and Q4 2025.
The group believes that it will achieve between 200-250 barrels of oil per day (bopd) of production through its first phase of remediation by December 2025, focusing on recovery efforts in the San Andreas formation, where the wells are currently producing at depths varying between 5,000 and 5,000 ft. The company also intends to complete its remediation efforts across its South Texas assets by December 2025, adding between 50-80 bopd in production.
In Q1 2026, the group will begin its evaluation re-entry into the Devonian through vertical re-entry efforts across the existing wellbores. The company’s efforts are supported by a single direct offsetting well that is operated by an unrelated party and has produced over 275,000 cumulative barrels of oil at a depth of 12,600 ft, with a well location that is less than 3,000 ft away from more than seven of Vision’s existing San Andreas wells. If these test well re-entries prove successful, the company has identified over 200 existing and 200 new well locations to allow for vertical re-entry in the Devonian.
