Texhoma Increases its Interest in Clovelly South
Texhoma Energy has entered into an agreement to acquire a further 5% working interest in "Clovelly South", increasing its total interest to 11%. Texhoma's financial obligation under the operating agreement is now approximately $400,000.
The prospect is located in Lafourche Parish, Louisiana and operated by ORX Resources, Inc. It is expected that drilling of the prospect will commence as soon as a rig is available.
The prospect is defined by 3D seismic and is adjacent to the
Clovelly Field which has produced 35 million barrels of oil and 200
billion cubic feet of gas since its discovery in the 1950s. The
drilling targets are two reservoirs at a depth of approximately
14,000 feet. The prospective size is estimated at 3.6 million
barrels. In the event of a discovery, facilities for the production
of the well are available. A discovery would lead to the drilling of
several development wells on the 1260 acre property.
- Texhoma Reports Successful SW La. Workover (Mar 09)
- Texhoma Reports Successful Recompletion at Intracoastal City (Feb 27)
- Texhoma: Buck Snag's Second Well Logs Three Gas Pays (Dec 08)