Exploration Co. Success Rate: Nine for Nine
The Exploration Company (TXCO) is on a roll in Southwest Texas
with another high producer, its ninth consecutive successful
natural gas well in the Prickly Pear (Glen Rose) Field west of San
Antonio, near the Mexican border.
The Paloma "E" No. 1-52 tested at up to 2.1 MMcf/d and 47
barrels of condensate with a flowing tubing pressure of 1,825 psi.
Estimated absolute open flow was 34 MMcf/d. "The well encountered
80 feet of Glen Rose reef that appear to be gas productive," said
Exploration Company President James E. Sigmon. Previous wells
tapped between 40 and 80 feet of gas-producing reef and individual
wells are producing up to 3 MMcf/d.
"We're being conservative in how we produce these wells," said
spokesman Roberto R. Thomae. "We're careful how we pull them so
that we don't get water. Water is a problem here and we don't want
to damage the reservoir." He estimated the wells would produce over
five to seven years, although he pointed out the company has only
three to four years experience with the formation and is "on a
continuing learning curve."
The wells are coming in at around 5,000 feet. "I would say
they're intermediate zone. This formation is coming in deeper in
East Texas, but we seem to be in an upthrown area." He said the
wells cost only $400,000 to drill "which makes payback pretty quick
at 2 MMcf/d."
TXCO has used new 3-D seismic data to pinpoint the reservoir and
tap in without hitting water. The Field is located in Maverick
County and is served by Aquila Pipeline on one side and West Texas
Gas on the other.
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