Theall Prospect - Oak Bend #1 (EF VC14, LP)
Results: Drilled & producing || Status: Producing 8,500 MCFD & 70 BOPD
Oak Bend #1 | API: 1711322240 | Drilled Q3 2018; Producing Q4 2018
Houston Energy acquired leases (~220 acres) in 2017 and spent the next 12 months creating a commissioner’s unit for the Theall well. The prospect is a down-thrown 3-way closure to test the Siph D sand through the Planulina 3 sand intervals. The structure produced 47.3 BCF and 386 MBC above and 70 BCF 716 MBC below the main objective. The Plan 1 is the main objective with an excellent AVO/Amplitude up-dip to wells with log shows and excellent down-dip sands. The Siph D sand is the first objective we will be drilling through, we will be 10’-15’ high to the down-dip well. In the Plan 2 and Plan 3 sands we will be 100’ up-dip to wells with logged pay and productive sands.
After drilling the formation, we found the Planulina #1 sands and the other zones were shaled out (which coincides with seismic). The Oak Bend #1 exceeded expected initial production (IP) rates and continues to impress with its pressure maintenance. It is expected to be our best project to date with many multiple of return for EF investors.
Funded 9/2017. Drilled Q3 2018. Producing Q4 2018. First revenue checks paid December 2018. Project cashflowing. Expected payback in ~14 months.
Producing 8,000 MCFD & 60 BOPD.