After restarting the horizontal Buda drilling program in 2017, ETX Energy closed an acquisition with Marlin Resources in June 2018 picking up additional acreage in Grimes, Brazos, and Burleson counties. Coupled with recent bolt-ons in Q1 2019, ETX is now primed for its Eagle Ford drilling program, which began in August 2018. ETX Energy expects great results from the new drilling campaign which is essentially adjacent to other major industry players such as Chesapeake/WildHorse, Hawkwood, Apache, Magnolia, and MD America. ETX now has a substantial Eagle Ford drilling inventory.
The Company has expertise in drilling and producing both horizontal and vertical wells with production co-mingled from multiple zones. The company also has acreage in the stacked pay Buda, Georgetown, Edwards and Glen Rose formations (the “Buda-Rose”). ETX has over 550 square miles of 3D covering its acreage. The company is currently focused on its substantial Eagle Ford inventory.
ETX Energy has over 550 square miles of 3D over approximately 70,000 acres in Brazos, Burleson, Leon, Madison, Grimes, and Walker counties in East Texas and utilizes the most advanced methods of selecting its project locations. Once ETX Energy develops a suitable geological and geophysical database and models and approves a project, it aggressively obtains leasehold at the best terms possible while also securing key infrastructure components that it will utilize in the development of the project.
ETX is currently developing its Eagle Ford position. ETX has also possesses a proprietary method to develop the Buda horizon horizontally in its acreage and believes it can apply that proprietary method to its other stacked pay carbonate zones in its acreage.