SilverBow Resources has put a horseshoe lateral in South Texas’ Austin Chalk, turning a one-miler around for a total 8,900-foot, U-shaped hole, it reported Wednesday.
The U lateral is the Chalk's first, according to Enverus data, while other operators have made U laterals in the underlying Eagle Ford formation, Jeff Magids, SilverBow vice president of finance and investor relations, told Hart Energy.
The well, in Live Oak County, Texas, came in with a 25% lower price tag than two one-mile wells, the company reported.
An IP rate wasn’t reported.
The well, HP Chapman 201H, is in northwestern Live Oak near its border with Atascosa and McMullen counties at the intersection of the Eagle Ford’s volatile oil and condensate phases.
“The successful … approach will be deployed to develop additional targets in the immediate area,” SilverBow reported.
SilverBow has identified more than 30 locations in “complex, stranded acreage configurations” where the U shape may “unlock potential significant value,” it added.
Among them, seven are planned in the area of HP Chapman 201H.
Recommended Reading
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.