This document provides overviews of three oil and gas plays that we have chosen for development after several years of research and preparation: South Tigre Lagoon, New Waverly, and the Barnett Shale, each of which promises unusually attractive rates of return as determined by several methods of investigation.
Site Summaries
South Tigre Lagoon
Located in the northern Vermilion Bay area of Louisians Iberia Parish, the South Tigre Lagoon Field lies above an underdeveloped salt dome which has only recently been identified as such thanks to the deployment of two 3D seismographic surveys, a technique that was unavailable until a few years ago. Many of the wells we have planned for our 549 acre lease will qualify for a state tax incentive program which eliminate severance taxes on those drilled deeper than 15,000 feet.
Capital Investment Requirements
Phase One: (3 month deployment) ($30 million)
Phase Two: (3 to eighteen month deployment ($90 million)
Total: ($120 million)
Barnett Shale
The Barnett Shale has become one of the better-known oil and gas plays in Texas and the surrounding region in large part due to the previously inaccessible reserves that can now be exploited with new techniques such as water fracking. The land weve chosen in this case offers relatively even distribution of oil and gas over 6,798 acres, with none of the 13 producing wells comprising more than 12 percent of total production.