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.
AKK Price at posting:
1.2¢ Sentiment: LT Buy Disclosure: Held
