ETX has a substantial Eagle Ford drilling inventory. After restarting the horizontal Buda drilling program in 2017, ETX Energy closed an acquisition with Marlin Energy 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 expects great results from the new drilling campaign as it monitors results from other major industry players, such as Chesapeake/WildHorse, Hawkwood, Apache, Magnolia, and MD America, whose positions are essentially adjacent to ETX’s area of focus.
ETX has expertise in drilling and producing both horizontal and vertical wells with production co-mingled from multiple zones. While the company is currently focused on its Eagle Ford inventory, the company also holds acreage positions in the stacked pay Buda, Georgetown, Edwards and Glen Rose formations (the “Buda-Rose”).
ETX emphasizes the value of using advanced technology in its development efforts. The company has over 550 square miles of 3D seismic data over approximately 70,000 acres in Brazos, Burleson, Grimes, Leon, Madison, and Walker counties in East Texas and utilizes the most advanced methods of selecting its project locations. After developing a thorough geological and geophysical database, the ETX technical teams then model the project using advanced geological, geophysical, petrophysical, engineering and economic analyses. ETX then aggressively obtains leasehold rights at the best terms possible while also securing key infrastructure components necessary for the seamless execution of the project.
In addition to the development efforts of its Eagle Ford assets, ETX has also possesses a proprietary method to horizontally develop the Buda horizon within its acreage, which could be applied to its other stacked pay carbonate zones within its acreage.