This acquisition illustrates the Company’s ongoing commitment to acquire and develop the highest quality acreage in the Eagle Ford Trend. Verdun Oil Company today announced that it completed its third asset acquisition consisting of 1,900 net acres and 600 net boepd in DeWitt and Gonzales Counties. Verdun expects to have completed and turned in line a total of 17 wells by September 2017. To date, the Company’s drilling program has delivered an average lateral length of 9,000 ft, with the longest coming in at 11,000 ft. The Company has TD’d its 12th Eagle Ford well at a measured depth of 21,500 ft and a true vertical depth of 12,200 ft, further demonstrating its ability to efficiently drill and complete long laterals and maximize the recovery of reserves under lease. This transaction is set to close on Octoand will increase the Company’s acreage position in the Eagle Ford and Austin Chalk trends to over 45,000 net acres. Verdun Oil Company today announced that it has signed a Purchase and Sale Agreement (PSA) to acquire an additional assets within the Eagle Ford trend. Verdun now operates 130 wells with more than 55,000 net acres of leasehold in the Eagle Ford and Austin Chalk trends. Verdun Oil Company today closed on 2700 net acres and 1250 net boepd in Live Oak County, immediately adjacent to existing Verdun leasehold and production. This acquisition gives the Company 27 efficient greenfield locations allowing for an average horizontal length of 8050 ft. Verdun Oil Company today closed on 2210 net acres (81% NRI) of non-producing leasehold located in the oil window of McMullen County. This acquisition increases Verdun’s Austin Chalk position to 55,000 net acres and complements the company’s strategy of coring up contiguous blocks of high-quality acreage allowing for efficient, long horizontal length development. Verdun Oil Company announced the signing of a Purchase and Sale Agreement (PSA) with a private company to acquire additional HBP assets located in the matrix porosity trend of the greater Giddings Austin Chalk field. The company now operates more than 160 horizontal wells and produces in excess of 12,000 net boepd.
This acquisition brings with it 22 producing wells, 2 state-of-the-art central facilities, a complete field gathering system, and 71 future greenfield drilling locations. Verdun Oil Company today closed on a contiguous block of 6,318 gross / 5,460 net acres and 850 net boepd located in Karnes and Live Oak Counties. Verdun Oil Company eclipsed the 20,000 net boepd milestone, while building an inventory of 16 DUC’s (and counting) that are expected to come on line between March and June of 2019. These projects demonstrate Verdun’s commitment to pursue efficient (clean) projects that also provide low-risk returns on capital employed.
#VERDUN OIL COMPANY PLUS#
Verdun Oil Company completed its 1st, 2nd, and 3rd water gathering systems with over 15 miles of combined pipeline length designed to handle all of the Company’s produced water plus that from offset operators in need of cheap, environmentally-friendly solutions.
Verdun Oil Company’s production surpassed the 34,000 net boepd mark, which represents an annual growth rate > 50% above the mark set 12 months prior. Verdun Oil Company LLC News January 20, 2020 As of January 2020, the company operates approximately 220 wells and produces over 34,000 net boepd. The Company owns over 33,000 net mineral acres across the Eagle Ford trend (located in LaSalle, Live Oak, McMullen, Dimmit, DeWitt, and Gonzales counties) in addition to 55,000 net acres in the Austin Chalk trend (located in Washington and southern Burleson counties). Austin Chalk oil recoveries since 2018 averaged 60% higher than those of the Lower Eagle Ford Austin Chalk holds about 4.1 billion barrels of crude, 18 trillion cubic feet of gas and 1 billion barrels of natural-gas liquids. Measuring 400 miles long and 50 miles wide along the Texas Gulf Coast, the Eagle Ford basin is spread over 12,000 square miles in South and central Texas.Īustin Chalk 650-mile long geological formation, stretching underground from the Mexico-Texas border, through central Louisiana and into Mississippi. Eagle Ford in Texas is the most mature tight oil play in the Lower 48 current, oil and natural gas production of 2.5 million barrels of oil equivalent per day.
0 kommentar(er)
