re: News: Target Energy embarks on aggressive...
Vish,
No-one can really answer that question, as it has too many variables in it.
All I can tell you from all the research I've done is that the Fusselman seems to be very much in play in a lot of the current TEX leases. You are talking anything from 80,000 boe to 200,000+ boe per Fusselman well alone. Each well may drain 80 acres though. Then you have to add in the Wolfberry section and TEX have talked about 140,000 boe from that zone on 40 acre spacing. You then have to add in the cline shale as well which might add X boe on top of that.
Producing fields in Howard County with EUR's of around 200,000 boe are selling for $20,000+ an acre.
TEX may soon have leases capable of delivering much more than that say 300,000 boe.
LOTM
TEX Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
