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Nerox Forms Joint Venture With Polaris

January 15, 1998|(James S. Granelli)

IRVINE — Nerox Energy Corp., an oil and gas company, said Wednesday that it has formed a joint venture with Polaris Production in Upland to develop oil and gas fields in Southern California.

Nerox indicated in a news release that it is involved in parts of two oil fields, the Yorba Linda field in Orange County and the Mahala field in the Long Beach area.

The Yorba Linda field has 825 productive acres with 228 producing wells and 224 idle wells, according to the state Conservation Department's division of oil, gas and geothermal resources. Nerox indicated it was involved in 21 of the wells, but provided no further information.

The Mahala field has 15 producing oil wells and 19 idle ones on 350 acres with an estimated 92 million barrels of oil underground. The joint venture is involved in 22 of the wells on 185 acres with 2.5 million barrels of oil underground.

The deal would need state approval before restarting idle wells or drilling new wells.

Jack Utter, chairman of Nerox, would not provide additional details. Executives at Polaris couldn't be reached for comment.

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