So you want to start an oil and gas company What you need: A Cohesive Team Business Plan(s) Unfailing enthusiasm Money (2 years worth) Patience Lots of patience Even more patience Still not enough patience Right amount of…
Flashback to before Boomtown Team worked at both majors & small independents out of school Start-up scene for teams under 35 did not exist in oil & gas Sources of capital wanted someone that fit a certain mold We felt that we had the…
Ideal Oil and Gas Project Overpressured, Multi-Bench, Repeatable, High-quality results Ability to drill long laterals to maximize returns Low Oil & Gas differentials High BTU gas with rich NGLS Multiple gas takeaway options with…
Rocky Creek Resources Project Greenfield with the LowerUpper Eagle Ford and Austin Chalk Acreage allows for 8,000+ ft Laterals on majority of leasehold Oil sells at premium to WTI and Residue Gas receives HSC pricing 1250 -1300 BTU…
RCR Deal Evaluation: Depth Pressure Focus: High pressure, asymmetrical gradient Depths: 11,500 to 13,500 ft Pressure: 8,500 to 12,000 PSI Area 1 Using G1/W2 data, observed 0.8 to 0.9 PSI/FT gradient across majority of potential…
RCR Deal Evaluation: OOIPGIP Focus: Consistent Geology RCR Wells Eagle Ford Total Thickness: 150 to 250 ft Austin Chalk Total Thickness: 450 to 750 ft Petrophysical analysis indicated a two-bench Eagle Ford thick with OOIP of 35-55…
RCR Deal Evaluation: Seismic Focus: Locate drilling hazards & leasing opportunities Purchased recently shot 3D shoot and located a miniature look-alike system to the Karnes Trough Fault system allowed for drilling of long laterals…
RCR Deal Evaluation: Phase LOE Eagle Ford 12 Month Water Cut Focus: Liquids rich and cheap to operate Phase: Black oil to Rich Retrograde Condensate Water Cuts & Disposal: Low and Available Phase mapping showed three distinct…
RCR Deal Evaluation: Marketing Focus: Competitive differentials Multiple purchasers provided competitive market terms NGL pricing uplift results in a effective gas price of 5.0 to 6.0 per MCF due to 1250+ BTU Oil pricing is a 4…
RCR Deal Evaluation: Engineering Focus: Prior practice After completing geologic review, it was clear that there was a project here but historical results were poor Detailed engineering review showed a number of issues Use of…
RCR Deal Evaluation: Engineering Focus: Other Operator Practice Team had been working in multiple basins and saw that Lavaca county was several years behind Permian…
RCR Deal Evaluation: Engineering Focus: Current Practice 2016 downturn forced companies in area to revaluate drilling and completion practices Slick water fracing is now the norm Average water pumped: 56 BBL/FT Average proppant…
Drilling Results Drilled 3 wells to date Decision made to drill two upper EF wells SHINER UNIT 1H (Lower EF) IP 120: 1,110 Bbls/d, 3.8 MMcf/d, Felt Lower EF seemed proven in area 490 Bbls/d of NGLs Two Successful tests in Kloesel…
Comparison of Rocky Creek vs all Lavaca Wells 15
Other Boomtown Operated Companies North Silo Resources and Longs Peak Resources DJ Niobrara and Codell Sand (210,000 Acres) Largest privately held position in basin Offset to EOG, High Point, Kaiser-Francis, and Samson Grey Wolf Oil…
Conclusion Detailed geologic analysis still has a place in the world of big data shale analysis Integration of engineering data is important in understanding future potential of resources Studying best practices of other companies is…
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