Stallion Group Takes Stake in Mississippi, Louisiana Acreage
The Stallion Group has entered into an agreement to acquire a 30% working interest in up to 200,000 acres of land in Southwest Mississippi and Northeast Louisiana. The area is situated in a prolific oil and gas region in the United States. The company will be targeting the Frio, Wilcox and Tuscoloosa geological formations. Drilling has already commenced and initial results will be announced shortly.
The agreement contemplates an initial 50 well drill program within the area of mutual interest (AMI). These wells will be drilled in several areas, including Palmetto Point; Red Bug; Tecumseh and Buffalo River. Over 7,500 miles of 2D seismic and 250 square miles of 3D seismic have already been shot. Over 100 drill targets have been identified to date.
The drilling program will be conducted by Griffin & Griffin Exploration in its capacity as operator. Griffin & Griffin of Jackson, Mississippi, has enjoyed a solid reputation as an oil and gas industry for over 40 years.
Griffin has utilized seismic "bright spot" technology, a technology providing a tool to identify gas reservoirs and to delineate the reservoir geometry and limits. Utilizing these critical factors has improved reserve estimates and the geologic success ratio that has made the Frio an economical and predictable reservoir.
The Stallion Group is an independent oil and gas company focused on developing proven energy rich areas of North America.
- Stallion Oilfield Services Strengthens Capital Structure (Feb 03)
- Stallion Lands Deal to House Marathon at Alba (Jun 10)
- Stallion Inks LOI to Buy Stirling and Continue Expansion in Africa (Jun 04)
Company: Griffin & Griffin Exploration more info
- Lexaria Announces Mississippi Discovery (May 17)
- Stallion Announces Mississippi Success (Mar 15)
- Stallion: Redbug #1 a Producer (Feb 26)