TXO estimates that this single position holds about 200 Bcf to 300 Bcf of natural gas with 25 Bcfe estimated per drill well. (Source: Shutterstock/ TXO Parnters)
TXO Partners announced Jan. 16 a potential play of 3 Tcfe of oil and gas assets in the Mancos Shale of the San Juan Basin.
The San Juan Basin lies along the border of northwest New Mexico and southern Colorado.
“The Mancos Shale is an upcoming, giant natural gas field where we hold a 58,500 contiguous-acre position that is held by production,” said Bob R. Simpson, TXO chairman and CEO, in a press release.
On an oil-equivalent basis, the company believes the field could yield five times its current reserve base. Offset drilling on the acreage adjoining the field has confirmed results, the company said.
TXO plans to exploit a 3,520-acre parcel of the field as Phase 1 development in the play, said Gary D. Simpson, TXO president of production and development.
The company estimates that this single position holds about 200 Bcf to 300 Bcf of natural gas with 25 Bcfe estimated per drill well. The position also has the potential to almost double its existing natural gas reserves, TXO said.
“We expect to drill, develop, and monetize at an economically opportune time and pace,” Gary Simpson said.
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