Caza, Momentum JV Strikes Oil, Gas at Glass Ranch

Caza announced that the Glass Ranch A #1 well in Upton County, Texas has successfully encountered hydrocarbons. The well, operated by Momentum Energy Corporation of Midland Texas, reached a total depth of 10,556 feet on July 5, 2008. Electric logs indicated multiple potential pay sands in the Wolfcamp and Spraberry formations. Completion operations have commenced and a fracture stimulation is planned for the near future. Following the success, the rig is being moved to an offsetting location to spud the Glass Ranch B #1 well.

Caza currently has a 50.0% working interest and a corresponding 39.08% net revenue interest before payout of the well, which will change after payout to an estimated 47.41% working interest and an estimated 36.32% net revenue interest.

"The Glass Ranch A #1 is the first of four planned wells on this property," said Executive Chairman John McGoldrick. "This is a very encouraging start to our exploration efforts in the Wolfcamp/Spraberry play in the Permian Basin, a very active and exciting oil producing area."
 

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Equipment Operator - San Antonio
Expertise: Coil Tubing|Driller|Production Operator
Location: San Antonio, TX
 
Frac Supervisor - TX, ND, WY & OK
Expertise: WellSite Supervisor
Location: El Reno, 
 
United States Bossier City: Service Supervisor I - Frac/Acid
Expertise: Field Service Tech|WellSite Supervisor
Location: Bossier City, LA
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours