Texas American Resources - Eagle Ford Divestiture 2018

Overview

  • Highly economic, large, contiguous, and de-risked acreage position in the Eagle Ford black oil window
  • 24,675 gross / 23,164 net largely undeveloped acres located in southwest Atascosa and southeast Frio counties, Texas
    • 100% operated with high average working interest of ~94%
    • Executable optimized development plan on 400' well spacing supports 214 gross drilling locations in the Lower Eagle Ford
    • Development plan employs long laterals (~9,300’ average length), higher intensity / modern completions, targeted lateral placement, and drilling order to minimize parent well effects
    • Austin Chalk analogous to development in the Sugarkane Field
  • Rapidly growing oil-weighted net production estimated to be ~4,800 boe/d by April 2018
  • Appraisal strategy implemented through data gathering, targeting, and completion modernization and optimization
    • Achieving robust performance with recent slickwater completion wells outperforming 2013 / 2014 Bowman wells’ EUR/ft by over 58% with continuous improvement on subsequent wells
  • Excellent Eagle Ford reservoir quality with porosity up to 12% and rich TOC values ranging from 3% to 6%
  • Ideal lease inventory (~21 leases) with easily managed continuous development obligations
  • Favorable marketing contracts and no minimum volume commitments

Contacts

Please email the signed Confidentiality Agreement to TARC.eagleford@bmo.com

Contact Chelsea Neville at +1.713.546.9703 or TARC.eagleford@bmo.com with any additional questions.