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Prodigy Oil and Gas Acquires Leases For Austin Chalk Oil Play

Prodigy Oil & Gas has acquired over 1800 acres in Frio country for the purpose of exploratory drilling of the Austin Chalk in the Pearsall Field.

Prodigy’s prospective acreage is surrounded by numerous oil and gas wells and is located within the heart of the prolific Cretaceous "Austin Chalk Trend” which forms a belt of producing fields stretching across south central Texas and Louisiana. The Pearsall Field was discovered in the early 1930’s. Since production data was recorded in January 1956, this field has produced in excess of 155 million barrels of oil (MMBO) and 102 billion cubic feet of natural gas (BCFG) or a total of 172 million barrels of oil equivalent (MMBOE) from the Austin Chalk, Buda Limestone and Navarro-Taylor Sands, confirming the prolific production capability of these reservoirs.

These prospects have strong geological control based on extensive subsurface well data. Oil and gas traps are present within the Austin Chalk, Buda and Georgetown Limes due to a combination of subtle structure, stratigraphic changes, fracturing and interbedded petroleum source beds within and adjacent to the reservoirs. Secondary reservoir targets exist in the Navarro-Taylor Sands and the Eagleford Shale. The Eagleford Shale may contribute natural gas as resource-type reservoir similar to the Barnett Shale of the Fort Worth basin. All of these formations exist over the entire Chalk trend and will be encountered in the test well. The geological characteristics of the prospect are very similar to those observed in numerous productive wells located elsewhere in the Pearsall Field. The Austin Chalk is a 350’ thick, relatively low porosity and permeability reservoir in the Pearsall Field. The Buda and Georgetown Limestones have similar geological characteristics to the Austin Chalk, and are typically 100’ and 200’ thick, respectively.

Technical data supports the conclusion that these prospects contains significant oil and natural gas reserves, and that advanced completion technology and stimulation techniques on the primary reservoir targets in the proposed test well are likely to significantly increase the production rates and ultimate recoverable reserves.

Please contact us for more information.

Nighttime Drilling

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