21 June 2005 at 10:56:21 PM
The Exploration Company provides an operations update on its Maverick Basin acreage block in Southwest Texas.
This year, the Company has spudded or re-entered 20 wells on the block, which covers approximately 727,000 gross acres. TXCO currently plans to drill 60-plus wells in its 2005 capital expenditure (CAPEX) program. Current drilling and operating highlights include:
TXCO had good success with its latest Glen Rose porosity well. The Comanche 5-111H (50 percent working interest) went on production at the end of May flowing 561 barrels of oil per day from the Glen Rose porosity on a 10/64-inch choke with no water. Drilling on an additional Glen Rose porosity well, the Cage 1-45H (50% WI), began in mid May. Year to date, the Company has participated in these two wells, plus a porosity re-entry begun in the first quarter, now in completion. Drilling on the next porosity well on the Comanche lease will start shortly.
Since drilling began in 2002, TXCO has completed 20 of 30 porosity wells with cumulative production in excess of 1.8 million barrels of oil. The Glen Rose represents the second-largest portion of TXCO's 2005 drilling program. The Company currently plans to drill six new wells and re-enter three existing wells by year end, targeting both the oil-prone porosity and gas-prone Glen Rose shoal.
Latest Blog Post by salon -Senator McConnell Supports the Mueller Investigation after Classified Briefing
You! Leave a Comment! You Know you Want To!
You must be a registered member to comment on the blog.
Your first post is held pending approval to make sure you're not
a spammer bot
Or you can login!
New poster comments are moderated,
meaning they won't show up until approved... or not. Be patient-we
have lives outside this blog, so it might take awhile You want to be rude?
totally stupid? inappropriate? Racist? Bigoted? Flame war baiter? Your
post may be deleted. Spammers or people posting pretend interest comments
but really wanting to hawk their latest book or sell stuff or govt
propaganda flacks won't see their posts published. Comments do not
necessarily reflect the viewpoint of the site owner(salon).
If you have a problem with logging in or registering, please speak up
right away. Love your comments. Oh, except spammers
More on commenting