Hi OGG,
thumb's up for the info.
MRO is pulling in additional rigs and Hilcorp is currently ahead of schedule (for drilling to hold by production). We've seen the HiWay fracc experiment and it is questionable whether the pairings held more acreage than single wells. So, it is quite possible that some experimentation will take place.
There is also the mystery of Esse Smith B, which is clearly in Excelsior (see AUT (good oil conference) presentation slide 17) but is producing at Sugarloaf rates. It is very close to Esse Smith A (we've not seen figures for that). We can't rule out that it is not an experimental well in a shallower part of the pay interval. This is just speculation. What is not speculation is the 30 day result reported or that it is an Excelsior well.
Chapman Schroeder, which must extend into other Hilcorp acreage, is comparable to Esse Smith B and Sugarloaf wells also. Between them are the two Henke wells, which were totally unexceptional.
So have Esse Smith B and Chapman Schroeder been drilled in a shallower part of the interval? If they have, and the results can be replicated over the whole Excelsior acreage, we could see an upgrade in the valuation of that acreage.
Re holding of shallower parts of the pay interval by drilling the lower part of the interval: MRO has made reference to the Buda and to the Edwards (Aug 30, slide 18) - upside potential, other stacked pay zones. Just as the Austin chalk overlays the EFS, so the Buda underlays it and the Edwards is deeper. Any thoughts?
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