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Beneath the immense and incredibly active Eagle Ford shale formation lies the Buda Limestone. While it doesn't draw as much attention as its popular neighbor, it offers quite a bit of upside in regard to oil and gas development.
Outlined below, Shale Experts details recent developments in the play as well as what companies have current wells targeting the Buda Lime.
It is naturally fractured so minimal stimulation if any is required. These wells cost between $3.1 - $4.3 million to drill and complete.
Operators are still testing lateral lengths which averages from 3,900 ft. to 4,500 ft.
A group of operators have been busy testing the Buda limestone formation with much success.
On June 20, 2013, the Company announced the successful completion of the Beeler #2H well at a gross initial production rate of 859 BOE/D. The Beeler #2H is the Company's first participated well in Dimmit County, Texas targeting the Buda Limestone formation. The Company has an approximate 30% working interest and an approximate 22.8% net revenue interest in the Booth Tortuga acreage block. Read more..
On August 15, 2013, reported read more..
On May 03, 2013 successfully completed the Buchanan 1H well in Zavala county. The well IP rate was 756 Bopd and 556 Mcf of gas. See completion record
On May 3rd, 2013 successfully completed the MILLS 1H well Zavala county. The well IPed at 959 Bbls and 551 Mcf of gas. See completion record
On July 15, 2013 successfull completed the Furgeson 2H well in Frio county. The well IPed at 519 bbls and 915 Mcf of gas. See completion record
Activity in the Buda Limestone play is still in the early days and as operators fine tune their drilling and completion strategies. We took a look at wells drilled / spudded between Jan and July of this year and found more about 56 wells.
Exxon/XTO Energy, Jetta Operating and Blackbrush Oil & Gas commands the lion share (53%) of the wells spudded this year.