The Exploration Co. hits on seven horizontal gas wells at Georgetown

Ray Tyson

Petroleum News Houston correspondent

The Exploration Co., a small independent producer based in San Antonio, Texas, said it has recorded seven successful Georgetown horizontal wells in a row, attributing the success to an improved seismic processing technique that better predicts the location of the formation’s faults and fractures.

“We have demonstrated that our Georgetown success is repeatable at widely varied locations across the 300,000-acre portion of our lease block containing the play,” James Sigmon, the company’s chief executive officer, said Feb. 19. He added that the new seismic technique has identified several hundred potential drilling locations.

The Exploration Co. reported year-end 2003 proved reserves of 28.4 billion cubic feet of gas equivalent, a 21 percent increase from 23.5 billion cubic feet at year-end 2002. “Virtually all” of the increase came via the drill bit, the company said. Fifty-five percent of the company’s proved reserves are classified as natural gas and 45 percent oil.