Two-Well Joint Venture
Two-Well Joint Venture
The Athena prospect will test 2 intervals in the Cook Mountain (13,200’ Willis Marsh) section located in southeast Liberty County, Texas, with combined reserve potential of 5 billion cubic of gas (BCF) and 270,000 barrels of oil (MBO). A total of 8 wells, located approximately 1 mile to the south and southwest, have been successfully completed within this same stratigraphic horizon for combined cumulative production exceeding 26 BCF and 1.325 MMBO, with 4 wells still producing a combined 7,700,000 cubic feet per day and 340 barrels of oil per day.
The Athena prospect is located 1,100’ north of the Catherine Henderson ‘A’ Unit #8 well which produced 7.6 BCF + 454 MBO cumulative and 2,900’ west-southwest of Choice’s Henderson Ranch #1 which produced 1.5 BCF + 102 MBO.
The Cobra prospect is a 14,000’ Yegua test located in the China Field in western Jefferson County, TX. The reserve potential is 8.8 BCF and 528 MBO and the prospect directly downthrown from a 9 BCF and 600 MBO well.
Through rigorous reprocessing of 3D seismic data in Jefferson County, geologists have identified additional prospects in the China Field. The Cobra prospect will test a Class 2 AVO anomaly in the Middle Yegua, directly downthrown from the Ballard – Bower J #1 well that has produced 9 BCF + 600 MBO, and adjacent to the Ballard – Walter Co 1D that has produced 2.7 BCF + 285 MBO. The Cobra prospect is correlative to both of these wells and exhibits all key seismic attribute characteristics of these and the other productive reservoirs in the field. The anomaly covers 44 Acres and has a potential of more 100’ of net productive sand.
Total Reserve potential: 13.9 BCF + 798,000 BO
UPDATE The southern Louisiana prospect, West Delta Farms #5 well, has settled into production rates of about 30 barrels of oil and 300 MCF of natural gas per day.
UPDATE The Jal Northeast Prospect is completely funded. The well will drill in early 2015. We are waiting on drilling permits from the state of New Mexico.
UPDATE The Perryton Joint Venture, Pope 4H well, has drilled to total depth. The completion/fracking work began on 1/8/2015. (see pics below)
UPDATE The initial step in drilling our Palo Duro well is finished. Core samples have been taken and look “outstanding”. Hydraulic fracking designs from four different companies (C&J Services, Schlumberger, Halliburton and Weatherford) are being reviewed. Harsh winter weather in northwest Texas has delayed the completion process. It is now scheduled for early March.
Perryton Prospect Pics
NOTE: Past performance of an oil well is no guarantee of the future performance of another well. The possibility of a dry hole is always present.