Lands & Acreage For Sale or Farmout. Available Through PLS Synergy Marketing Group All Standard Disclaimers Apply & Seller Rights Retained
WEST TEXAS RESOURCE PROJECT
>500-Potential Wells. 25,074-Acres.
IRION & SCHLEICHER ACREAGE
PERMIAN BASIN MULTI PAY
Obj 1: Wolfcamp (Horizontal) ~6,000 Ft.
Obj 2: Clearfork. 4,800 Ft.
WOLFCAMP SHALE HZ OIL PLAY
3-D, 2-D, AVO & Subsurface Geology
90% OPERATED WI; 74% NRI
Est Initial Production: 1,000-1,200 BOED
Well Can Be Drilled On 140 Acre Spacing
ACTIVE LEASING AREA
Est (HZ) Reserves: 450 MBOE/Well
Quick Est Project Reserves: 80 MMBOE
Project Could Use 3-D Seismic.
Horizontal & Vertical Completions Possible
DHC: $2,200,000; HZ Compl: $3,800,000
Sale PointsTREND GROUP IRION CO TX ACREAGE OFFERING
UNIQUE RESOURCE PROJECT
PLS is representing a seller who is offering for sale 90% Operated WI in their Irion Co., TX and Schleicher Co line prospect that is targeting horizontal Wolfcamp and Clearfork with additional back up pays.
"The Wolfcamp shale play is proving to be oily, consistent and large-very large."
Recent drilling in the horizontal Wolfcamp Oil Shale Play near White Dove has produced stunning results. Although early in the development of the field, operators have ramped up from 1 rig in 2010 to 21 presently. Horizontal lengths and stimulations are being optimized with EOG, El Paso, Approach and Pioneer reporting an average initial production of 1200 BOPD In Q3 2011!
These results have spurred a tremendous amount of leasing activity in the area. Four companies leased 14,875 acres for $53,025,114 dollars for an average bonus of $3,565 per acre in the 2011 University Lands Sale adjacent to White Dove.
With 2,500' of gross oil and gas potential consisting of the Wolfcamp, Dean and Clearfork (equivalent to the Sprayberry in this part of the basin), White Dove has the same potential as the adjacent lands. All zones have fractured oil and gas sections with the Wolfcamp also being the 'generating' rock. Electric and mud logs from wells drilled on White Dove confirm that there are several potential horizontal targets with numerous conventional vertical targets. Each zone is porous, has mud log shows and calculates oil productive.
An operator adjacent to White Dove has publicly stated that the original oil and gas in place could be as much as 180 million BOE per 640 acres. Conservative recovery assumptions are 3% oil and 10% gas. This company has drilled 500 wells since 2004 and is now drilling horizontal Wolfcamp wells over its acreage.
ADDITIONAL HIGHLIGHTS ---
There are 25 horizontal permits filed in Irion and Crockett Co., during the first week of February.
Apache is running 3 rigs to the NW of the White Dove Prospect
MULTI PAY PROJECT---
Wolfcamp (Primary Objective)
Clearfork and Canyon Objectives
Ellenburger, Strawn and San Andres Possible
RESOURCE & CONVENTIONAL PROJECT
Horizontal and Verttical Opportunity
Oil Productive Reservoirs
Low Risk and Highly Repeatable
This project is just north of Common Resources position and east of Apache (3 permits); Devon (1 permit); EOG (12 permits) El Paso (1 permit); and Three Rivers (5 permtis) all have active programs.
Wolfcamp Horizontals ---
30 Wells Drilled
Public Data Highlights EUR: 400-450 MBO
Some Shooting For 7,000 Ft Laterals; Cost $5.5 MM
Space These Wells On 140 Acres
IP Range From 800-1,600 BOPD
21 Area Rigs Running
EUR Should Cumm 100-110 MBO
Costs $1.2 MM
IP Expected At: 75-100 BOEPD
One Area Operator Says There Could Be As Much As 180 MMBO Per 640 Acres. Based on 35 Recovery Factor and 10% Gas.
Seller Seeks A Spring 2012 Transaction.
Mr. Richard Martin
Director - Divestment Services
1401 Ballinger St Ste 205
Fort Worth, TX 76102
Questions Regarding This Asset? Email Richard Martin or call PLS at 713-650-1212
Questions Regarding This Asset?
Email: Richard Martin
All Standard Disclaimers Apply & Seller Rights Retained