Eagle Ford Shale Activity In Wilson County
As the boundaries of the giant Eagle Ford shale oil and gas play are continuing to be expanded, Lucas Energy has announced that it has acquired acreage in Wilson county, which falls in the “oil window” of the Eagleford shale.
Lucas Energy, stock symbol: LEI, is a Houston based company that has experience in the Austin Chalk formation. The company specializes in undervalued properties and doing re-entry work in older wells, including horizontal drilling, to increase production.
They report that they have acquired 2,700 acres of leases in Wilson county. Some of these leases include older Austin Chalk wells which could possibly be re-entered and deepened into the Eagle Ford shale.
William A. Sawyer stated that there will be further announcements of a partnership coming this fall.
For landowners in Wilson county it appears that the Eagle Ford shale boom is coming their way as well.
Update, August 5, 2010.
EOG has completed its first two wells in southern Wilson County. The Borgfeld #1H and #2H showed initial production rates at at 707 and 836 barrels of oil per day, respectively. EOG has 100 percent working interest in the wells. EOG is still maintaining a modest five rig drilling program until the results of a large, are wide seismic survey is completed throughout their South Texas Eagle Ford oil window acreage which consists of over 505,000 acres. They have announced that a 14 rig program will commence at the end of the survey and remain throughout 2011.