Barron Petroleum makes oil and gas discovery in Permian Basin, US

first_img Barron Petroleum drilled a new discovery well in Val Verde County. (Credit: Barron Petroleum LLC) US-based exploration and production (E&P) company Barron Petroleum has made what it claims to be a major discovery at a 13,000-acre field in Val Verde County, Texas.Located about six miles southwest of the Massie (Strawn) field, the ‘Sahota Carson 20BU #1’ well was drilled to a total depth of 12,650ft and encountered about 70ft of gas-bearing Strawn porosity.Barron Petroleum said that the well has been tested at rates of up to five million cubic feet per day following stimulation.The field holds 417bcf of oil and gas reservesAs per the estimates, the field holds 417 billion cubic feet (bcf) of oil and gas reserves, which is equivalent to 74.2 million barrels.The company noted that the 3D seismic survey was used developing the 13,000-acre prospect. Barron holds a 100% working interest (WI) in the prospect.Barron Petroleum president and CEO Barron Petroleum said: “We are currently evaluating means to further enhance location selection and well performance. The company intends to continue our drilling programme, encouraged by the recent strengthening in natural gas prices.“Our team is very ecstatic and the next step is to figure out how to develop the lease or get someone to join the venture with us. Our company has a significant cost advantage since we internally source many well construction services. We are proud of our low-cost operating structure.“This discovery is also near existing infrastructure, which avoids the extreme Waha hub gas price variability.”The Val Verde sub-basin is located south-east of Permian’s Midland sub-basin.Additionally, Barron Petroleum is considering testing and potential development in the Ellenburger formation at about a depth of 16,000ft, Canyon at an approximate 9,000ft deep. Sahota Carson 20BU #1 well, which was drilled to a total depth of 12,650ft, encountered about 70ft of gas-bearing Strawn porositylast_img