Current Prospects

Jal Northeast Prospect

The Jal Northeast Prospect is located in the East Fowler Oil Field in Lea County, New Mexico. Approximately 9 miles NE of the city of Jal, about 15 miles SE of Eunice, NM, and 1.4 miles from the Texas state line. The Prospect acreage is about 840 contiguous acres in Township 24 South: Range 38 East.

The East Fowler field has produced more then 26,000,000 BO (barrels of oil) and 105 billion CFG (cubic feet of gas). Oil and natural gas is found in combined structural and stratigraphic traps overlying deep-seated structures. The well will be drilled to a depth of 11,900′. The well will target several different formations but, the primary target is the Ellenburger formation. Geologists think the Ellenburger formation is about 433′ thick.

Some of the Ellenburger formation drilling highlights:

  • Greenback State #1 well drilled by EOG to 11,839′ produced over 109,791 BO and over 55 million CU in March of 1996.
  • Greenback State #2 well drilled by EOG to 11.685′ produced over 219,036 BO and 102 million CFG in November 1996.
  • Greenback Federal #1 well drilled by EOG to 11,546′. The well’s initial 24 hour production tested at 104 BOPD (barrels of oil per day) and 34,000 CFGPD. The Federal #1 suffered premature failure of the casing which resulted in loss of the well in 2001. Its total production was 62,256 BO with some natural gas.
  • Greenback State #3 will was drilled by EOG in March of 1997. The well produced over 149,611 BO and 65,000 CFG. The #3 initial production was 291 BOPD and 120 MCFPD.
  • Greenback State #7 well drilled by EOG in January of 1998 produced over 275,000 BO and 137 thousand CFG.

Why do we want to drill this well?

  • Proven Ellenburger production
  • If successful, multiple in-field wells could be drilled on this acreage
  • Existing oil and gas gathering infrastructure. Low pressure gas line available.
  • 3-D seismic coverage over field
  • Predicted flow rates of 150 BOPD
  • Geologist’s estimated reserves of 300,000 BO

SOLD OUT The southern Louisiana prospect, West Delta Farms #5 well, produced 1594 BO in June. Daily production as increased from 9 BO and 20 MCF of natural gas on June 3rd to 119 BO and 332 MCF of gas June 8th.

SOLD OUT The Jal Northeast Prospect is completely funded. Watch for our next prospect.

UPDATE The Perryton, Pope 4H well, has drilled to 4800′ on 7/15.

UPDATE The Perryton, Pope 4H well, has finished drilling the curve section at 6889’. Will now set 7’ intermediate casing and then begin drilling laterally. (see pics below)

Perryton Prospect Pics