Privately held Barron Petroleum LLC said it made a substantial oil and natural gas discovery at a 13,000-acre field in West Texas.

The Graham, TX-based exploration and production company, which has been working with geoscientist William Purves on the project since 2018, said a discovery well found an estimated 74.2 million boe in reserves. 

The discovery is about six miles southwest of the Massie (Strawn) field in the Permian’s Midland sub-basin. The well in Val Verde County was developed using a 3-D seismic survey. It was drilled to a total depth of 12,650 feet, Barron said.

Petroleum engineer Albert McDaniel, based in Fort Worth, TX, evaluated the seismic analysis and said “the project is now so low-risk that it more resembles that of a development project than an...