By Andrea: http://oilshalegas.com
GeoResources Inc. (GEOI) recently released an operational update announcing their move into St. Martin Parish, LA where they plan on drilling in the 4th quarter of 2010:
St. Martinville is a shallow oil development project with deeper gas objectives located in St. Martin Parish, Louisiana. They are currently moving onto our first drilling location. GeoResources plans to drill four wells during the 4th Quarter of 2010 and 1st Quarter of 2011. The first well, the Conoco Fee A-53, is expected to test Miocene-aged, stacked oil objectives ranging from 2,700 to 4,500 feet. Our working interest is 97%. Pending approval of proposed units and drilling permits, they plan to drill three additional wells one of which will be a re-entry of a previously drilled well. Our working interests are expected to be similar to the Conoco Fee. They continue to work the 3-D seismic and subsurface geologic well control and expect to have additional locations. In the event of success in the first four locations, the project could be expanded to include six to ten additional wells. All of these proposed drilling locations have multiple stacked objectives and are above 5,000 feet. GeoResources also has drilling objectives for gas and liquids in the Discorbis section at about 10,000 feet. Drilling and completion services and supplies are readily available for this project.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Showing posts with label GeoResources Inc. (GEOI). Show all posts
Showing posts with label GeoResources Inc. (GEOI). Show all posts
Friday, October 15, 2010
Roosevelt County, Montana: Bakken Shale Update
By Andrea: http://oilshalegas.com
GeoResources Inc. (GEOI) recently announced their first Bakken Shale well in Montana, located in Roosevelt County, Montana:
Their first Bakken well in Montana, the Renegade #1-10H has been drilled and is waiting on a frac. The well was drilled in the Middle Bakken on a 640 acre unit. The well is located on our 2,920 gross acre Rip-Rap prospect in Roosevelt County, Montana in Section 10, T26N-R59E. We have a 25% working interest in the well and prospect.
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Fore more shale updates, visit: http://blackberrystocks.blogspot.com
GeoResources Inc. (GEOI) recently announced their first Bakken Shale well in Montana, located in Roosevelt County, Montana:
Their first Bakken well in Montana, the Renegade #1-10H has been drilled and is waiting on a frac. The well was drilled in the Middle Bakken on a 640 acre unit. The well is located on our 2,920 gross acre Rip-Rap prospect in Roosevelt County, Montana in Section 10, T26N-R59E. We have a 25% working interest in the well and prospect.
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Fore more shale updates, visit: http://blackberrystocks.blogspot.com
Mountrail County, ND: GeoResources Bakken Shale update
By Andrea: http://oilshalegas.com
GeoResourcs Inc. (GEOI) recently release an operational update on their activity in the Bakken Shale, located in Mountrail, ND:
To date, in our non-operated program located in Mountrail and adjacent counties, they have participated in 72 wells drilled by our primary operator, Slawson Exploration, with a 100% success rate. In addition, they own minor working interests in numerous wells within the Bakken/Three Forks play. Slawson is currently running three drilling rigs and they continue to acquire additional acreage and well interests, when reasonably available.
At present, 9 -12 wells are scheduled for the 4th Quarter of 2010 where they expect to have working interests in the 5% to 15% range. Additional wells are in the process of being permitted and scheduled. Completed well costs, including surface equipment and production facilities for single lateral wells drilled on 640 acre units are currently estimated at approximately $5.0 million and at $6.2 million for 1,280 acre units. Recent wells drilled on 640 acre units have had 18-22 frac stages per well, while wells drilled on 1,280 acre units have had up to 41 stage fracs.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
GeoResourcs Inc. (GEOI) recently release an operational update on their activity in the Bakken Shale, located in Mountrail, ND:
To date, in our non-operated program located in Mountrail and adjacent counties, they have participated in 72 wells drilled by our primary operator, Slawson Exploration, with a 100% success rate. In addition, they own minor working interests in numerous wells within the Bakken/Three Forks play. Slawson is currently running three drilling rigs and they continue to acquire additional acreage and well interests, when reasonably available.
At present, 9 -12 wells are scheduled for the 4th Quarter of 2010 where they expect to have working interests in the 5% to 15% range. Additional wells are in the process of being permitted and scheduled. Completed well costs, including surface equipment and production facilities for single lateral wells drilled on 640 acre units are currently estimated at approximately $5.0 million and at $6.2 million for 1,280 acre units. Recent wells drilled on 640 acre units have had 18-22 frac stages per well, while wells drilled on 1,280 acre units have had up to 41 stage fracs.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Williams County, ND: GeoResources Inc. - Bakken Shale Update
By Andrea: http://oilshalegas.com
GeoResources Inc. (GEOI) recently released an operational update on the Bakken Shale located in Williams County, ND. They have acquired new land and have begun drilling in the area:
On September 25, 2010, they initiated drilling on the Williams County acreage with the Carlson 1-11H well, a Middle Bakken test in Section 11, T157N-R103W. The initial location is a 640 acre drilling unit and they have a 47.5% working interest. We also plan to drill two 1,280 acre spacing units immediately following the Carlson well. Their working interests in these locations are 34% and 35%, respectively.
GeoResources acquired approximately 50,000 net leasehold acres in an AMI covering about 115,000 acres and as mentioned in prior releases, brought in industry partners to participate in development. As operator, they retained a 47.5% working interest, representing approximately 24,000 net acres. Assuming full development on a 1,280 acre spacing unit basis, they have a majority interest and control about forty (40) units and have working interests in another forty-two (42) units. Where they have a minority interest in a spacing unit, they will continue to focus on increasing our interests; thereby increasing the likelihood that they will be the designated unit operator.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
GeoResources Inc. (GEOI) recently released an operational update on the Bakken Shale located in Williams County, ND. They have acquired new land and have begun drilling in the area:
On September 25, 2010, they initiated drilling on the Williams County acreage with the Carlson 1-11H well, a Middle Bakken test in Section 11, T157N-R103W. The initial location is a 640 acre drilling unit and they have a 47.5% working interest. We also plan to drill two 1,280 acre spacing units immediately following the Carlson well. Their working interests in these locations are 34% and 35%, respectively.
GeoResources acquired approximately 50,000 net leasehold acres in an AMI covering about 115,000 acres and as mentioned in prior releases, brought in industry partners to participate in development. As operator, they retained a 47.5% working interest, representing approximately 24,000 net acres. Assuming full development on a 1,280 acre spacing unit basis, they have a majority interest and control about forty (40) units and have working interests in another forty-two (42) units. Where they have a minority interest in a spacing unit, they will continue to focus on increasing our interests; thereby increasing the likelihood that they will be the designated unit operator.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Fayette County, Texas; Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
GeoResources Inc. (GEOI) recently released an operational update noting the acquirement of new land acreage in the Eagle Ford Shale in Southwest Fayette County, Texas:
They have assembled approximately 22,000 net acres in the Eagle Ford trend of Texas and entered into agreements with Ramshorn Investments, Inc., an affiliate of Nabors Industries LTD, to jointly acquire additional acreage and implement a drilling and development program. A wholly-owned subsidiary of GeoResources, Inc. retains a 50% working interest (currently about 11,000 net acres) and will serve as operator within an Area of Mutual Interest, located in Southwest Fayette County, Texas, which covers approximately 140,000 acres. Pursuant to the Participation and Joint Operating Agreements, Ramshorn has purchased a 50% interest in the acreage and will drill six horizontal obligation wells for the joint account. In addition, the parties have agreed to acquire additional acreage within the AMI. They intend to begin drilling as soon as reasonably possible, perhaps by the end of 2010.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
GeoResources Inc. (GEOI) recently released an operational update noting the acquirement of new land acreage in the Eagle Ford Shale in Southwest Fayette County, Texas:
They have assembled approximately 22,000 net acres in the Eagle Ford trend of Texas and entered into agreements with Ramshorn Investments, Inc., an affiliate of Nabors Industries LTD, to jointly acquire additional acreage and implement a drilling and development program. A wholly-owned subsidiary of GeoResources, Inc. retains a 50% working interest (currently about 11,000 net acres) and will serve as operator within an Area of Mutual Interest, located in Southwest Fayette County, Texas, which covers approximately 140,000 acres. Pursuant to the Participation and Joint Operating Agreements, Ramshorn has purchased a 50% interest in the acreage and will drill six horizontal obligation wells for the joint account. In addition, the parties have agreed to acquire additional acreage within the AMI. They intend to begin drilling as soon as reasonably possible, perhaps by the end of 2010.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Subscribe to:
Posts (Atom)
