In a press release dated March 29, 2010, Meridian Resource Corporation announced the preliminary results of a 17,340′ test well drilled in the Eagle Ford shale play located in Karnes County, Texas.
This information indicates that the well, which was first tested on March 10, 2010, has been testing continuously since March 14, 2010 on a 14/64th inch choke at a rate between 1,300 and 1,550 barrels of oil per day and about 1.2 million cubic feet of natural gas per day with initial flowing casing pressure of 5,250 pounds declining to 4,270 pounds as of March 26th. The oil has a gravity measured in the field between 46 and 49 API. The well was drilled to a measured depth of approximately 17,340 feet (about 11,900 feet TVD at end of lateral) with a horizontal lateral of about 5,000 feet in the Eagle Ford. The well was completed with a 15 stage fracture treatment.
Meridian owns approximately 12,695 undeveloped gross acres in this area. If this well proves successful, the land / royalty owners of this area may see an increase in activity.
If you own mineral rights in the Eagle Ford shale and are interested in selling, we can help. Nationwide Royalties, LLC is currently buying oil and gas royalties and non-producing mineral interests in the Eagle Ford shale play. Please click here to submit your information and receive a free bid request.
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If you are interested in selling your oil and gas royalty, lease or overriding royalty interest, you can submit your bid request directly through our website. You have no obligation to accept our bid, so there is no risk involved in finding out what your oil and gas royalties are worth.
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