2016 – Pendleton Field, Louisiana
The Pendleton Project is a horizontal field redevelopment project targeting a fractured chalk reservoir that was developed in the 1960’s with vertical wells. Roxanna has acquired 12,000 net acres within the 100,000 acre field. Shallow drill depths (3500’) provide a low cost opportunity to apply modern horizontal drill and completion techniques to intersect undrained fractures. We believe the anticipated EUR’s of 60-100 MBO/well coupled with low drill and complete costs provide an attractive ROI for investors seeking to test new plays in today’s low price environment. The large acreage position creates an exciting option for significant additional drilling in the event of favorable initial well tests and/or oil price.
Contact email@example.com for more details regarding the Pendleton project.
- 75% WI , 78% NRI available in 12,000 net acres
- Leases are 3 year primary, with 3 year renewal option (renewal cost $150/acre)
- Investor pays $300/net acre or $265,680/10% WI for land, legal, G&G and prospect fee
- First two evaluation wells are heads up, 75% Investor, 15% Roxanna, 10% Existing Investor
- Well cost estimated at $1.5 MM D&C
- After two wells, investors have option to continue drilling, carrying Roxanna for 10% in future wells (pay 85% to earn 75%)