The site has 50 new well locations and an existing 50 well bores which could be rehabilitated and brought back into production.
Bering said it will initially target the Eagle Ford and Austin Chalk formations.
In addition, the company will initially drill four test wells on its Eagle Ford shale play in Central Texas targeting $11m in gross potential reserves.
Bering said the drilling operations have begun on its Gulf Coast prospect with potential gross revenue valued at $29m over the life of the prospect.
The results will enable the company to design and develop an in depth drilling program for the remaining 116 potential well locations targeting gross potential reserves of more than $300m.
Bering VP of Finance Steven Plumb said this as an excellent opportunity to establish production and cash flow and expects the wells to provide better results that would help in the expansion of remediation efforts in the entire field.
