Pexcon Finalizes Acquisition of Texas Gas Field


Matagorda County, Texas
(Click to Enlarge)
Pexcon has finalized the acquisition of 50% of the Boggy Bayou Field located in Matagorda County, Texas, and with partners will immediately begin reworking several wells in the field. Remaining reserves are estimated to generate revenues of approximately $9.8 million, and the company expects the revenue from the reworked wells to generate positive cash flow in the second quarter of 2005.

This field was discovered by Exxon and has produced approximately 10 billion cubic feet of gas from multiple Miocene sands above 6,650 feet. Deeper prospective zones have not been tested, however, 3-D seismic data indicates considerable potential remaining deeper on this structure in the prolific Frio sands, which abound in this part of Texas.
Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Sr. Project Manager
Expertise: Project Engineer|Project Management
Location: Odessa, 
 
Administrative Assistant IV
Expertise: Executive|Secretarial or Administrative
Location: Houston, TX
 
US Houston: Account Rep, Bus Dev
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $50.97/BBL 1.53%
Light Crude Oil : $48.75/BBL 1.79%
Natural Gas : $2.92/MMBtu 0.68%
Updated in last 24 hours