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GeoSpectrum is offering for sale two Wolfcamp sand prospects in Reeves County, Texas with total reserves of 20 BCFG. We have identified a number of prospective gas productive areas utilizing 3D seismic interpretation. Acreage is available for drilling two of these prospects. Each prospect could be developed with 2 wells with reserves of 5 BCFG/well. These prospects offset a Wolfcamp field that has an EUR of 20 BCFG from 4 wells or 5 BCFG/well. The Wolfcamp sand prospects nearby have similar seismic inversion characteristics to the sands in the field area. The productive sands are stacked gas sands ranging in depth from 10,900’ to 11,600’. The inversion process differentiates low impedance gas sands from the high impedance water bearing sands. The Wolfcamp sand was sourced from the south and deposited in channels in this area that are easily seen on time slices in the inversion data. The Wolfcamp sand has to be fraced to yield commercial production. GeoSpectrum’s terms are $300 M bonus for interpretation and land costs, and we will retain a 25% WI and be carried to casing point decision on the first well drilled on each prospect. The bonus is above average because of high acreage costs in this area. GeoSpectrum will have the option to participate on subsequent wells for up to a 25% interest. We will deliver our 640 acres of leased lands with a 25% royalty burden. If your company is interested in reviewing the seismic interpretation or terms of these prospects with GeoSpectrum, please contact Dr. James J. Reeves at the contact phone numbers below. You will be asked to sign a non-disclosure and non-compete agreement that will cover the specific area of the prospects. This agreement will be effective for two years from the date of execution. These prospects are subject to prior sale. All reasonable offers will be considered. Please contact us if you have any questions or desire to discuss these prospects.
Dr. James J. Reeves, Ph.D. |
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P. O. Box 3399, Midland, TX 79702-3399 |
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