WTD Resources presents at EnerCom’s The Oil & Gas Conference®

During WTD’s breakout session, management was asked the following questions:

  • What’s your development plan in Texas?
  • Are you as selective in the rig time you use to drill these wells?
  • Is it preferable to get the negotiations with companies before or during the bankruptcy process?
  • Can you elaborate on your production schedule?
  • What’s the success rate of these wells you will be targeting on the Gulf Coast?
  • Is your decline curve similar to historical declines?
  • Is there a hedging strategy planned?

You can listen to WTD’s s presentation by clicking here.

WTD Resources is a privately held company formed in 2014 that is focused on the conventional onshore areas of the Gulf Coast. The company has successfully completed one acquisition in 2016 with a second scheduled for closing within 30 days. The company is currently pursuing other acquisitions for 2016 closings.

The first acquisition consists of 29,000 gross acres leased and/or optioned in Newton County, TX, targeting the Austin Chalk. The company holds a 20-30% non-operated position in the Newton County assets. 17 to 25 units have been identified with three to five wells per unit, with additional down spacing possible. The first well was spud in June 2016 and is currently being tested with the second currently being drilled. The remaining six are in the permitting process. EUR’s range from 250 to 1,000 Mboe with completed well costs of $2.5 to 4.0 million. The wells will be drilled conventionally with 3,000 to 7,000 foot laterals. Fracing will not be required.

The second acquisition is located in the Louisiana I-10 corridor, targeting the Eocence and consisting of ten identified exploitation targets with EURs ranging from 250 to 1,000 Mboe. The company will hold a 10%-50% operated or non-operated position in the Louisiana assets. Wells will be conventional verticals with 7,000 to 10,000 foot depths with no fracking required. Completed well costs will range from $1.0 to 2.0 million.

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