TXO Companions, a restricted partnership targeted on the acquisition and growth of typical oil and pure fuel within the U.S., has recognized an general pure fuel useful resource potential of three TCFE throughout 58,500 acres within the Mancos shale area of the San Juan basin.
“TXO has constructed a portfolio of oil and fuel wealthy belongings with super potential for growth. The arrogance we’ve got within the efficiency of those properties gives the muse for our premium distribution firm,” said Bob R. Simpson, Chairman and CEO. “With this angle, our technical workforce has recognized one other extraordinary play inside TXO’s huge operated manufacturing base. The Mancos Shale is an upcoming, large pure fuel area the place we maintain a 58,500 contiguous- acre place that’s held by manufacturing. The goal holds almost 3 Tcfe of pure fuel potential. On an oil equal foundation, we imagine this might signify as a lot as 5 instances our present complete reserve base. The catalyst for motion in creating this challenge is commodity value, and we anticipate robust pure fuel economics forward.”
“We imagine the Mancos Shale growth shall be a game-changer for our reserve holdings and manufacturing potential,” continues Gary D. Simpson, President of Manufacturing and Growth. “TXO acreage and operations reside in prime place. Offset drilling on adjoining acreage has confirmed effectively outcomes. Given all of the essential standards—reservoir traits, acreage location, productiveness information, and infrastructure entry—we’ve got recognized a tactical 3,520-acre block as Section I for creating and monetizing reserves, representing about 6% of our present Mancos place. Particularly, our inside engineers estimate that this single place holds about 200 to 300 Bcf of pure fuel with 25 Bcfe estimated per drill effectively and has the potential to virtually double our current pure fuel reserves. Importantly, the corporate’s acres for exploitation are held by manufacturing with no leasehold expiration dates. We count on to drill, develop, and monetize at an economically opportune time and tempo. We imagine this high-impact, shale challenge will drive extraordinary worth for our homeowners.”
Inside basin, TXO has water rights, firm owned floor & SWD, and optionality for key fuel gathering methods.