North Carrizo, Yolanda Villarreal #1 oil well (Dimmitt County, Texas)
- Aus-Tex holds a 45% BC/WI, a 36% AC/WI and a 27.36% NRI
- Producing formation is the Austin Chalk
- A total of 951 feet of hydrocarbon shows (oil & gas) were encountered during drilling
- Estimated recovery of 200,000 – 250,000 barrels of oil is anticipated
- The well began flowing oil naturally on July 31, 2010
- The IP oil flow rate during testing was 243 BOPD
- Current oil production is emanating from natural pressure only
- After the well pressure has stabilized, the operator will put the well on pump
- Daily production rates are expected to then settle between 250 and 300 barrels of oil per day.
ABOUT THE ASSET
The Company’s North Carrizo Well is an Austin Chalk formation, 3D seismic supported property that was acquired in May 2010. The well went into production on July 31, 2010.
About the Yolanda Villarreal #1 well
- There are two producing zones, the B Zone (Upper Austin Chalk) & the E Zone (Lower Austin Chalk).
- The well is a dual lateral horizontal. Vertical target depth is 5,480 feet. Two horizontal laterals have been completed each at lengths of 2,500 and 2,000 feet.
- The well is located in Dimmitt County, Texas USA
