MYERS OIL COMPANY
Following are brief summaries of of several projects that we are presently
working on and for which we are actively seeking interested operators. Please
don't hesitate to contact us for much more
- North Cowden, Clabberhill, and Triple N Fields, University Block 9 -
Andrews County, Texas
Primary development prospects include one workover and two additional open
40 acre locations for Holt formation oil production from a proven structure
at a depth of approximately 5300 ft (estimated reserves 50 to 150 MBO per
well), and another workover and open location for oil production from the
San Andres formation at a depth of approximately 4200 ft. Several
additional plugback and salvage zones are also present in this area, of
which the Grayburg looks particularly attractive, with reserves of 40+ MBO
likely. These prospects are located on University Lands acreage, where
Myers Oil Company presently holds a 480 acre lease position. We are
seeking an operator capable of drilling 3 to 4 wells and working over 1 to 2
wells for this prospect.
- North Cowden Field - Ector County, Texas
Myers Oil Company owns an interest in a tract with proven Grayburg and Holt/Clearfork
oil potential at depths less than 5600 ft. Two prospective Grayburg
well locations and one Holt location remain available for development.
Direct offsets have produced up to 180 MBO and 440 MBO from the Grayburg and
Holt/Clearfork intervals respectively. Several additional formations,
both shallower and deeper, are also proven producers in the area, with open
locations available for development. Unfortunately, we have
become involved with a relatively high cost operator on this lease, and that
has discouraged us from pursuing further development opportunites while this
operator remains involved. We are looking for a low cost operator
capable of drilling several wells to proceed with further development, and
it may be necessary to buy out some or all of the present operator's rights.
- Shallow Gas Play, Northeastern Central Basin Platform
We are finalizing our evaluation of a relatively shallow, multi-section gas
play, which is anticipated to have very attractive economics. The
target zone has been evaluated through the use of modern well logs in
numerous wells, and is confirmed by production from nearby fields with
similar, easily identifiable characteristics. Many existing wellbores
are drilled through the target zone, and are available for use as excellent
plugback candidates, at depths of less than 5,000 ft. Our preliminary
evaluation indicates reserves on the order of 1 BCF per 160 acre drainage
area, and a total reservoir area covering several sections or more.
Our ongoing review of additional well logs will help to better delineate the
reservoir area and improve the accuracy of these initial estimates.
Several producing lease acquisitions and multiple workovers will be required
for this high potential prospect.
- Moderate Depth Gas Play - Pecos County, Texas
We have identified a known gas play with reserves on the order of 5 BCF per
well, that does not appear to have been adequately developed by
previously drilled wells. Depths to the primary zones of interest are
less than 7,000 ft. There are several additional target zones with
very high potential but somewhat higher risk at depths less than 10,000
ft. We are looking for an operator to acquire between 800 and 1800
acres of unleased acreage, and to drill a minimum of 4 wells. It seems
likely that additional prospective locations may become apparant upon
further evaluation and development of this play.
Once again, please contact us for
more detailed information on these or any other Myers Oil Company properties
prospects.htm last updated: May 17, 2003 01:01:48 AM