Some Punter called Simon Andrew from Hartleys writing a report!
Best they get cracking on getting people into it they got heaps in at 3c and then walked away!
Brazos Basin (Brazos and Burleson Counties)……LNR , AKK
- Brazos Basin spans Brazos and Burleson Counties. Rig count has doubled in the last year.
- Very productive area for the likes of Apache (APA), Halcon (HK) and Clayton Williams (CWEI).
- IP30 rates of 500 to 1,000 across the Brazos Basin
- Apache recently confirmed plans to ramp up drilling activity in the area. Apache is already running 3 rigs and plans to add a fourth next month
- Apache plans to spend US$300m in the area this year targeting 40+ wells.
- In addition to the geology Apache also highlighted the quality of the infrastructure in the area and abundant water as another advantage.
- Apache believe the geology can support 1000 foot well spacing given thinner sections versus southern Texas.
- Read through to our universe. Austin Exploration (AKK) has just drilled a well with Halcon (HK). Early flow rates of 1,050 b/d from the Stifflemine #1H (see attached graphic) well. AKK are free carried on 3 more wells in this area. The recently acquired acreage by Lonestar (LNR) is located in Brazos and Burleson Counties. See the recent company presentation for the map.
- The two graphics below show Halcon’s (left) and Apache’s (right) ground across Brazos and Burleson.
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