Pennsylvanian age reefs and carbonate banks are prolific hydrocarbon reservoirs in the northern Midland Basin. Some fields producing from these reservoirs are the Ropes Field and the Smyer Field in Hockley county and the Idalou Strawn Field in Lubbock County. This prospect is located ten miles north of the city of Lubbock and covers three potential Pennsylvanian Reef/Banks and one large Abo reef development project. The attached land plat shows the location of the three Penn. seismic anomalies, the seismic line, and the 2040 acre Abo prospect outline in Sections 4, 5, 6, 7, and 8 of Blk. D, L&SV RR CO Survey.
The southern Pennsylvanian anomaly is a Strawn Bank, the middle one is a Cisco Reef, and the northern one is a Lower Strawn Bank as identified on the seismic line. The 2D seismic line was shot by Getty in 1980 and is 1200 percent data. The upside estimated ultimate reserves (EUR) for each Penn. anomaly is 2 MMEEBs at a depth between 9,000 and 10,300 feet. EUR for the three anomalies would be 6 MMEEBs. There are only 10 Strawn penetrations in a 54 mi2 area encompassing this prospect and none within 4,500 feet of the prospect. The Idalou Strawn Field lies 91/2 miles to the southeast and the Smyer Strawn Field 19 miles to the southwest.
The Abo prospect is a shallow development zone in the Abo at a depth of 6,100 feet, and it lies within the yellow acreage outline on the Land Plat. This is the underdeveloped Givens Field. The field was discovered in 1981 by Hunt Energy. Three wells have been drilled and completed for the Abo Reef reservoir. Two still produce, and one that was shut-in is scheduled to come back on line 4th quarter 2001. The three wells have a cumulative production of 157,236 BO through 3/2001. The EUR for the Abo Reef here are 110,000 BO/40 acre proration unit for primary recovery and 160,000 BO/40 acre proration unit for primary and secondary recovery together. The Tubb Sand is draped over the Abo Reef, and this relief can be seen on the seismic line. There should be room for 40 wells in the Abo reservoir here for a total of 6.4 gross MMBO through secondary recovery.
RECOMMENDATION:
We recommend drilling a development well 660' FW & SL's of Section 6 to a depth of 6,200 feet and complete in the Abo reef as an updated confirmation well to the field. A 3-D seismic program should then be shot over the field and adjacent area to evaluate the Pennsylvanian anomalies and to pick the best locations for additional Abo wells. The acreage on the southern Penn. anomaly needs to be pursued after seeing the seismic interpretation.
TRADE
Lewis controls 833 acres under the prospect outline; 480 acres under an assignment and 353 acres under option. The proposed drill site is 100% leased (assigned). Lewis will deliver a 75% NRI on all acreage controlled for a bonus price of $75/acre. The remainder of the acreage under the outline is open and available. Lewis will lease and deliver this additional acreage under the same terms.
