Lighthouse Petroleum Inc. said Thursday it will explore for oil in the Tuscaloosa Marine Shale (TMS), disclosing that it had acquired stakes in two wells in St. Helena Parish, LA.

According to documents filed with OTC Markets Group, Lighthouse purchased a 29.336% working interest (WI) on the Lucy Lee No. 1 well — plus a salt water disposal well, Lucy Lee No. 2, and 65 leased acres — from Plateau Energy LLC on Jan. 9. The transaction boosts Lighthouse’s stake in Lucy Lee No. 1 to 34.336%; the company acquired a 5% WI in 2012.

The documents showed that Lighthouse had also purchased a 35.168% WI in the Mina Travis No. 1 well from Plateau on Jan. 11. Both wells are in the Liverpool Field of the TMS.

“While several elements played roles in [our] decision to expand, the [Louisiana Department of Natural Resources’] belief that there is a potential of 7 billion bbl of recoverable oil in the area ultimately put the plan in motion,” Lighthouse said, adding that its objective is to recover about 2 billion bbl of oil from the Liverpool Field.

The company said it plans to have operators install rod pumps and 120-inch stroke lifts on both wells, which will be drilled to a depth of 7,000 feet. Lighthouse said it expects to have a rig on location and working by Monday, weather permitting. The company said that once the rig is on site it should take 10 to 14 days to complete the installation.

Lighthouse said an engineering firm would be hired to conduct a reserve analysis of the Liverpool Field 90 days after production begins at the two wells.

Lucy Lee No. 1, a vertical well, was completed on Aug. 28, 2002 to a measured depth of 1,994 feet. According to one document submitted to OTC, during the drilling “abundant oil flowed to the pits. This event proved once more what was already known for many years: that the TMS is a potential reservoir for oil and gas.”

Lighthouse, a junior oil and gas company based in Levelland, TX, is focused on acquiring and developing assets in the TMS, Permian Basin, the Midcontinent and the Barnett Shale.

Industry analysts remain cautious on the emerging TMS (see Shale Daily, Jan. 10), but several companies are jumping into the play. Amelia Resources LLC is looking to market 47,300 net acres there, while Goodrich Petroleum Corp. plans to spend $25 million to $50 million drilling six to 10 gross (two to four net) wells in the play (see Shale Daily, Jan. 4).

Halcon Resources Corp., Encana Corp. and Devon Corp. have also begun drilling wells in the TMS (see Shale Daily, Nov. 9, 2012; Sept. 18, 2012; July 16, 2012). So far, all three companies said they have seen encouraging results.

Encana holds the largest position in the TMS, at 355,000 net acres. Other companies that have significant positions in the play include Indigo II Minerals LLC (250,000 net acres), Devon (208,000), EOG Resources Inc. (200,000), Goodrich (134,200), Amelia (124,000), China Petrochemical Corp., also known as Sinopec, (102,000) and Halcon (70,000).

The TMS covers 2.7 million acres in Pike, Amite, Concordia and Wilkinson counties in Mississippi; and East Feliciana, West Feliciana, East Baton Rouge, Washington, Livingston, Tangipahoa, Avoyelles and St. Helena parishes in Louisiana.