Assets

ClearWater Resource Play

  • Oil and Gas Focused
  • Well life extends past 25 years
  • Producing from three wells
  • Oil and Gas Focused
  • Well life extends past 25 years
  • Mississippian, Wofcamp, Canyon and Strawn formations
  • Wells are drilled and undergo a multi-stage frac
  • Located in Howard County, Texas

Prospect Background

In April 2011, the Company, through its partnership with Aurora Energy Partners acquired a 1.5% working interest and a 1.125% net revenue interest in 3,186 gross acres known as the Clearwater Property. 

At the time of acquisition this property held two producing wells and a third exploration well was in progress. At year-end 2011, there were three producing oil wells on this property.   During February 1, 2012 the Company assigned approximately 944 gross acres of mineral rights related to the Hamlin 26 and Hamlin 24 tracts to another operator in exchange for an overriding royalty interest proportional to the working interest held by the Company. 

In exchange for the assignment, the Company retained a 0.375% overriding royalty interest in the 944 gross acres.  The Company still owns a 1.5% working interest and a 1.125% net revenue interest in the remaining 2,242 acres.

The company, through its partnership with Aurora Energy Partners, holds a 1.5% percent working interest and a 1.125 percent net revenue interest.    

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Our references to estimated ultimate recovery or “EUR” in on this web site refers to the estimated unrisked adjusted reserves for a well from proved, probable and possible categories of reserves.