Drilling Down: Mexican oil company goes drilling in North Texas
The U.S. subsidiary of a Mexican oil company is getting ready for a new round of projects in the Marble Falls oil field of North Texas.
Petrobal is seeking permission from the Railroad Commission of Texas to recomplete three vertical wells in Jack and Palo Pinto counties. Pebrobal, headquarterd in Irving, is targeting the Palo Pinto and Jack County fields down to depths of 5,675 feet.
The mining, insurance and finance conglomerate GrupoBal launched Petrobal in March 2015 as part of Mexico’s historic energy reforms. The Mexico City company set up its Texas office in early 2017, shortly after buying thousands of acres of leases from Brigadier Oil & Gas of Plano.
Petrobal and the Houston offshore oil company Fieldwood Energy won a joint bid for shallow water oil leases in Mexico’s Bay of Campeche in September 2015. Here in Texas, Petrobal is focused on gaining experience for onshore operations by targeting Marble Falls play, where it has more than 230 wells.
The Midland oil explorer Endeavor Energy Resources continues to drill despite reports that at least three major oil companies are in a bidding war to buy it. Owned by wildcatter billionaire Autry Stephens, the company is planning to drill 16 new horizontal wells to depths of up to 12,000 feet in its Black Pearl and Rosalie leases in Howard and Martin counties. . With 436 drilling permits filed so far this year, Endeavor is one of the largest oil companies in the Permian Basin.
Eagle Ford Shale
Trinity Operating , a Houston exploration and production company, plans to drill a pair of horizontal wells in the Eagle Ford Shale of South Texas. It also is seeking permission to drill one oil well for its Rancho Tres Hijos lease in McMullen County and another on its Whitwell B lease in Frio County. The projects target the Eagleville field of the Eagle Ford geological layer to a depth of 10,000 feet. Founded in late 2016, Trinity began acquiring oil leases in early 2017.
British-owned BP is preparing to drill four horizontal wells in the Haynesville Shale of East Texas. The company is seeking permission to drill two pairs of gas wells split between its Everest Gas Unit lease in Angelina County and its Walker SU J lease in Nacogdoches County. The four projects target the Carthage field to a depth of 19,500 feet.
Devon Energy of Oklahoma City is preparing to drill three new horizontal wells its McCurdy Floyd lease in Wise County in in North Texas. The three wells target the Newark East field of the Barnett Shale to a depth of 9,500 feet. So far this year, Devon has filed 41 drilling permits for projects in Texas , 29 in Barnett and 12 in the Eagle Ford Shale.
Merit Energy of Dallas is seeking permission for three directional wells on its Boston Texas Land & Trust lease in Hidalgo County. The three projects target the Javelina field of the Vicksburg sand formation down to a depth of 13,300 feet.