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>> Worth Prospect
>> XX Ranch Property
Worth Prospect
Property
The Worth prospect is located in Howard County, Texas. The project is a re-entry that has been compared to the Would Have Field Discovery. The Would Have Field was discovered in 2001 by L.C.S. Production Company, (L.C.S.), after re-entering a well originally drilled in 1996 by Cobra Oil and Gas, known as the #1 Guitar. L.C.S. sold the Would Have Field in 2003 to Crownquest Operating LLC (Crownquest). L.C.S. drilled 24 wells and had production rates of 3,050 BOPD. The Worth prospect is a re-entry of the Worth Petroleum Corp., #1 Griffin Ranch well, drilled and plugged in 1983. The same hydro-carbon formation interval that Crownquest is producing in the #1 Guitar well is present in the #1 Griffin Ranch well but at a shallower depth (see log comparison).
Log Comparison
Mr. Don Christensen, an engineer with Schlumberger has reviewed and compared the Worth Petroleum, #1 Griffin log to the Cobra Oil and Gas, #1 Guitar log. The following is the report Mr. Christensen has issued.
Would Have Field
L.C.S. drilled 24 wells producing 3,050 BOPD and sold to Crownquest who presently has 41 wells producing over 70,000 barrels of oil per month. Crownquest plans to drill 40+ additional wells on their leases.
Bonanza has acquired a very nice lease block surrounding the Worth Petroleum, Griffin #1 well (see map). The size of the acreage purchased and optioned has the potential of 32 locations.
Structure Map
Regional dip toward the Permian Basin is normal structure for the Clearfork formation because the oil is contained in a porous stratigraphic trap.
Operator |
Lease |
Avg BO/D |
Cumulative Oil |
Crownquest |
Yarbar |
415.74 |
377,750 |
Crownquest |
Broughton |
5.39 |
1,317 |
Crownquest |
Guitar 7-6 |
12.19 |
5,849 |
Crownquest |
Guitar C |
|
42,437 |
Crownquest |
Guitar C 13 |
|
14,388 |
Crownquest |
Chapman |
188.39 |
21,910 |
Crownquest |
Guitar B |
|
322,434 |
Crownquest |
Slater |
297.97 |
509,509 |
Crownquest |
Guitar 13 |
|
218,750 |
Crownquest |
Guitar |
1,016.35 |
102,839 |
Crownquest |
Guitar A |
|
186,641 |
Crownquest |
Reddell |
10.00 |
2,918 |
Crownquest |
Long |
17.48 |
2,550 |
Crownquest |
Guitar 10 |
|
505 |
Crownquest |
Dillard |
75.81 |
17,232 |
Crownquest |
Newton |
163.68 |
13,852 |
Total |
|
2,203.00 |
1,840,881 |
Regional Geology
CLEARFORK, EASTERN SHELVE
The definitive characteristics of this play is (1) a setting on the eastern shelve of the Permian Basin Province, and (2) reservoirs consisting primarily of restricted shallow-water carbonate platform sedimentary rocks, with admixtures of silicate clastics and with all of the carbonate rocks dolomitized and all reservoir facies, to a degree, plugged with anhydrite, resulting in relatively low-permeability reservoirs.
The play includes oil and subordinate-gas fields in a combination of stratigraphic, stratigraphic/structural, and structural traps in shelf-margin and interior-facies carbonate and, to a lesser extent, clastic reservoirs of Permian age. The play area covers the eastern shelf area southeast of the Pedernal Uplift and west of the Bend Arch. Maximum thickness of Permian sedimentary rocks in the play is less than 10,000 ft.
Reservoirs: Reservoir rocks consist of porous limestone, dolomite, dolomitized mudstone and wackestone, and lesser amounts of fine-grained clastics frequently associated with evaporites, redbeds and sabkha facies. These rocks appear to have been deposited in platform edge, open-shelf, intertidal, supratidal, and restricted-shelf environments associated with platform growth. Reservoirs are contained in Permian Wolfcampian, Leonardian Clear Fork Formations, and Guadalupian San Andres, Grayburg, Queen, Seven Rivers and Yates Formations. Gross reservoir thicknesses range up to 1,000 ft, porosities average 10 percent, and permeabilities average 6 mD. Drilling depths vary from 3,000 to 10,000 ft.
Source rocks: Source rocks include indigenous organic-rich calcareous shale and shaly limestone of Permian age; however, it is believed that the Late Devonian Woodford Shale and organic-rich Pennsylvanian and Permian shales in adjacent basins are also important source contributors to the shelf areas. Deposited under restricted shelf, intertidal, and lagoonal environments, the source beds are probably extremely rich in organic material.
Timing and migration: Hydrocarbon generation from adjacent organic-rich source rocks probably occurred during Upper Permian time. Hydrocarbons migrated laterally and upward into the present porous reservoir rocks immediately after generation. The tectonic and depositional structures that control the configuration of the traps of this play were formed by the end of Permian Guadalupean time. The evaporitic seals completing these traps were deposited during the same epoch. It seems likely that mature source rocks as old as the Late Devonian Woodford Shale began delivering oil and gas to migration routes to Permian reservoirs in shelf settings almost immediately after reservoirs were sealed. Subsequently, younger source rocks consisting of organic-rich Pennsylvanian and Permian shales should have contributed additional hydrocarbons to established migration paths, and all undepleted source rocks may still be supplying oil and gas to the reservoirs of this play.
Traps: Primary trapping mechanisms are stratigraphic, structural, and combined stratigraphic/structural. Stratigraphic traps in the shelf sequence are formed by lateral facies changes into nonporous and permeable strata. Structural traps are generally simple anticlinal closures that had topographic relief during the Permian. Buried reef traps are also present. Seals consist of anhydrite, salt beds, nonporous dolomites, and redbeds.
Exploration Status: The Clearfork formation cumulative production through 1990 was 10 BBO, 7.9 TCFG and 900 MMBNGL. Wasson, the largest oil field, discovered in 1936, has produced 2.4 BBO. Slaughter-Lovelland, also discovered in 1936, is a close second for total oil production with 2.3 BBO. Wasson has also produced 2.2 TCFG and Slaughter-Lovelland has added 1.7 TCFG to the associated gas total. Pecos Slope, the largest nonassociated gas field, was discovered in 1951 and has produced over 300 BCFG. This field's ultimate recoverable gas is judged to exceed 1 TCFG. Major discoveries in this play started prior to 1960.
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