The Company is acquiring an approximately 1,500 acre lease in North Central Jack County that appears to have Oil-rich and Gas rich Marble Falls and Caddo (Pennsylvanian) Limestone,(based on well control from adjoining and surrounding leases), located in the Forth Worth Basin.
Additional formation targets include the Atoka Conglomerates, the Caddo Limestone and the Mississippi Limestone (Chester Lime and Chappel Lime)the Barnett Shale and the Ellenberger. These formations are found at an average depth of 4,000ft-6,000ft, and 125ft - 300ft of gross pay thickness.
Both the Marble Falls , Caddo and the Mississippi Lime formations, are shallow and found in numerous counties within the Forth Worth Basin and in the same geographic area as the prolific Barnett Shale play in North Texas. The vast majority of wells drilled to date have been vertical completions, typically providing high initial production, with lower drilling and completion costs. Shorter horizontal legs are showing great promise to date. Because of the limestone’s porosity and natural fractures, drill and completion costs, can be 35-50% of the typical unconventional well costs compared to other currently active plays in Texas, New Mexico and Oklahoma.
There has been a rapid movement of Majors and Large Independent's focusing on developing and exploring these areas, as a result of wells potentially producing an oil ratio in excess 50% of gross production and low drilling costs/high rates of return.
Since 2011, to date, Majors have acquired tens of thousands of net acres of Marble Falls/ Caddo /Mississippi Lime and continue to increase acreage/drill locations, including the expansion of all resource plays with successful “tight hole” wells distanced away from early “core” areas.
The Marble Falls is an oil-rich Pennsylvanian-age porous limestone formation, that is deposited above the Barnett Shale and can form aberrational pinnacle reefs at depths less than 5000 feet, reaching a thickness of 400+ feet. These resource plays create the opportunity for large reservoir targets with extraordinary hydrocarbon deposits within shoal basins, and have produced in excess of 100,000 BO per well with additional High BTU gas adding potentially 500mm -1.0 B of production per well.
Marble Falls / Caddo & Caddo Conglomerate wells in Jack, Palo Pinto and some surronding Counties have produced approximately 25-100,000+ BO & 250k - 3.0 B of high BTU gas, in vertical wells with great future potential in horizontal wells to expose more reservoir rock and exponentially increase production capabilities, as the technology advances.
Currently Known Geology
Rapid development in Pennsylvanian- age Marble Falls Formation; similar to Target Area Barnett play • Play consists of vertically fracturing of reservoir rock and horizontal boreholes • Atokan sandstones and Conglomerates • Migrations of Chestarian-age sediments derived from Ouachita fold belt - North Texas • Approximately 450 feet of post- Barnett, Chestarian rock found in Northwest, Fort Worth Basin – near Jack/Young Counties.
Marine deposited limestone and numerous pinnacle reefs • Two formations between the Atokan/Bend Conglomerates and the Barnett Shale • Distinct sediments present of a Pennsylvanian formation (Marble Falls) • Limestone platform varies from 125ft to 300+ft in thickness •
Marble Falls & Caddo & Caddo Conglomerates in North Texas Jack, Palo Pinto, Archer, Young, Stephens, Montague Target Area Counties • Majors rapidly developing area with successful results .
This will develop comparably to the other REAL Oil & Gas plays have throughout the country, as the technology is applied and modified.
Pump jack and production facility for Oil & Gas Combo Play