Tuesday, October 7th, 2014 and is filed under Oil and Gas Current Events, Permian Basin Oil News, Texas Oil and Gas Investing, Uncategorized
(Dallas, Texas) –– Aresco LP, a privately held exploration and production company, today announced drilling has begun on the Noodle Canyon #1-H in Jones County, Texas. The 4,500’ vertical development project targets the Canyon Sandstone, a conventional stacked play featuring five intervals along with three other potential pay zones.
“The Noodle Canyon #1 is just one of several conventional projects underway for us in Texas,” said Brandon Laxton, President and CEO of Aresco LP. “While unconventional exploration may get all the headlines, we are finding success exploiting conventional fields with years of proven production, which helps manage the exploration risk for our operating and capital partners. We benefit from the decades of production and decline curve data available in the area and increase our overall potential with the addition of modern efficiencies in drilling and completion.”
The Noodle Canyon #1-H is the first of six wells in a Permian Basin field-extension project that offsets the highly productive Noodle Northwest Oil Field and the Noodle North Field. These fields have produced a combined 3.5 million barrels of oil and 5 billion cubic feet of gas.
About Aresco LP
Aresco LP is a privately held Dallas-based exploration and production company actively engaged in developmental drilling, mineral leasing, and production acquisitions in conventional and unconventional oil plays throughout Texas, Oklahoma, and New Mexico. The company specializes in production-driven projects designed to provide income stability and strong growth potential. Aresco’s asset portfolio provides a strong balance of ownership positions in rapidly developing conventional formations and development projects in proven oilfields with decades of active drilling and production. To learn more, please visit www.arescotx.com.
This is not an offer to sell nor solicitation of an offer to buy any security. Such offer may only be made by a written prospectus in a jurisdiction wherein the offering is duly registered or exempt therefrom. This content is provided for informational purposes only. Nothing herein shall be construed as tax, legal, or accounting advice. Investing in oil and gas is highly speculative and could result in substantial losses. There are no guarantees that any returns will be achieved. Potential investors should consult their attorney, accountant, and financial advisors before investing in oil and gas.
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