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Deal Summary
Energy Advisors Group has been retained by Prime Systems to market their development program in Starr Co., TX.
Prime Systems is seeking a capital raise for a Drill-Ready Horizontal Well, which will be utilizing Baker Hughes LWD Directional Drilling & Open-Hole Gravel Pack Completion technique to produce from Proven Primary Reserves (260,000 MBO).
We are looking for an Operator or Non-Operated Partners to make a $2.8 MM investment to drill the HZ well and expect a payout in less than 6-months. For more information please review the provided Teaser for this package.
Prospect Information:
—Ready-to-Drill Horizontal Well through entire field (3,000′ Lateral)
—11’ Avg. Net Pay; 1,800′ MD Reservoir
—ESP for Accelerated Prod. in Years 1 & 2
—Baker Hughes Will Provide LWD Directional Drilling & Open-Hole Gravel Pack Completion
—Baker Hughes Technique Will Increase Volumes 30%
—3rd Party Engineering Available (Modeled by Prosper)
—1P: 260 MBO 2P: 560 MBO
—Expected IP: 940 BOPD
—Drill & Completion Costs : 2,800,000
About the Field
—Proven Productive Stratigraphic Trap
—Historical Shallow Oil Field
—O’Hern & Frio Sands
—Starting in 1949, the field was underdeveloped with 9 wells (40-acre spacings) recovering only 9.8%
—OOIP: 2,769 MBO (Infield Reserves: 560 MBO)
—A similar historical field within 3-mi exists with documented successful primary and sec. recovery
Asset Highlights:
- SOUTH TEXAS HZ DEVELOPMENT
- DRILL-READY 5,400′ HZ WELL. 9 PAY ZONES
- HISTORICAL SHALLOW OIL FIELD
- Baker Hughes Completion Technique
- OPEN-HOLE GRAVEL PACK
- O’HERN & FRIO SANDS.
- 3,000′ Lateral. Reservoir: 1,800’ MD.
- 100% Operated or Non-Operated WI
- Expected IP: 940 BOPD
- All Leases in Place.
- Generator Expects Less than 6-Month Payout.
- Proven (Primary) Reserves: 260,000 BO
- Drill & Completion Costs: $2.8 MM
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For more information, contact Blake Dornak, A&D Director EAG, at bdornak@energyadvisors.com, Office 713-600-0169 or Cell 903-390-6803.
CODE DV 6545
