Exploration Co. sets record capital budget

By OGJ editors
HOUSTON, Dec. 22 -- The Exploration Co., San Antonio, set a record $40-50 million capital budget for 2006 and warned that rig availability might dictate revisions.

The regular budget is up 40% from 2005 spending, and the company is planning a capital expenditure expansion aimed at pursuing the Barnett and Woodford shale plays. This would be its first exploration and development activities in the Marfa basin.

The budget also calls for participating in 57 gross wells, with $23 million going for 28 planned Glen Rose wells and $8 million for eight EnCana Corp.-operated Pearsall wells.

Ten Georgetown wells are to take $6.6 million, and 10 wells in the Pena Creek field San Miguel oil play drew $3 million. The budget includes outlays for more pilot wells in the San Miguel tar sand play, a 3D seismic survey on the Burr lease, Pena Creek waterflood improvements, and lease acquisitions (OGJ Online, Dec. 9, 2005).

Related Articles

TXCO Resources outlines $100-110 million budget

12/27/2007 TXCO approved a $100-110 million expenditure budget and drilling program for 2008 compared with a $72.4 million budget for 2007.

Pearsall gas flow to evoke Maverick drilling

10/03/2007 Drilling may increase in the next 3 years in the Maverick basin in Southwest Texas after a vertical exploratory well flowed 10 MMcfd of gas from Cr...

Exploration Co. to acquire Output Exploration

02/21/2007 Exploration Co., San Antonio, agreed to acquire privately owned Output Exploration LLC for $95.6 million in cash and stock in a move to boost natur...

Road-boring rig to aim at viscous Texas oil

06/28/2006 A West Texas operator will use a modified road-boring rig to drill two multilateral horizontal pilot wells to access shallow viscous oil in Wardlaw...

EnCana to buy Maverick basin interests

09/29/2005 EnCana Oil & Gas (USA) Inc. agreed to pay $80 million for 300,000 acres in the Maverick basin of Southwest Texas from Exploration Co. of Delaware I...

Exploration Co. expands Maverick basin holdings

02/18/2005 The Exploration Co., San Antonio, expanded its acreage holdings in the Maverick basin in Southwest Texas and added numerous drilling prospects in t...

Exploration Co. to pursue 'strategic alternatives'

12/17/2004 Exploration Co., San Antonio, said it retained financial consultants to pursue alternatives for the company that include merger or sale.

Myriad Maverick basin prospects challenge San Antonio independent

10/04/2004 With half a basin to explore and exploit, Exploration Co. of San Antonio is probably not too worried about a lack of geologic opportunities.

Area Drilling

02/24/2003 The international unit of Harken Energy Corp., Houston, spudded the Cajaro-1 wildcat on the 82,752-acre Cajaro Association Contract in the Llanos b...

White Papers

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by

The impact of aging infrastructure in process manufacturing industries

Process manufacturing companies in the oil and gas, utilities, chemicals and natural resource industri...
Sponsored by

What is System Level Thermo-Fluid Analysis?

This paper will explain some of the fundamentals of System Level Thermo-Fluid Analysis and demonstrate...

Accurate Thermo-Fluid Simulation in Real Time Environments

The crux of any task undertaken in System Level Thermo-Fluid Analysis is striking a balance between ti...

6 ways for Energy, Chemical and Oil and Gas Companies to Avert the Impending Workforce Crisis

As many as half of the skilled workers in energy, chemical and oil & gas industries are quickly he...
Sponsored by

Available Webcasts



Global LNG: Adjusting to New Realties

When Fri, Mar 20, 2015

Oil & Gas Journal’s March 20, 2015, webcast will look at how global LNG trade will be affected over the next 12-24 months by falling crude oil prices and changing patterns and pressures of demand. Will US LNG production play a role in balancing markets? Or will it add to a growing global oversupply of LNG for markets remote from easier natural gas supply? Will new buyers with marginal credit, smaller requirements, or great need for flexibility begin to look attractive to suppliers? How will high-cost, mega-projects in Australia respond to new construction cost trends?

register:WEBCAST


US Midstream at a Crossroads

When Fri, Mar 6, 2015

Oil & Gas Journal’s Mar. 6, 2015, webcast will focus on US midstream companies at an inflection point in their development in response to more than 6 years shale oil and gas production growth. Major infrastructure—gas plants, gathering systems, and takeaway pipelines—have been built. Major fractionation hubs have expanded. Given the radically changed pricing environment since mid-2014, where do processors go from here? What is the fate of large projects caught in mid-development? How to producers and processors cooperate to ensure a sustainable and profitable future? This event will serve to set the discussion table for the annual GPA Convention in San Antonio, Apr. 13-16, 2015.

This event is sponsored by Leidos Engineering.

register:WEBCAST



On Demand

The Future of US Refining

Fri, Feb 6, 2015

Oil & Gas Journal’s Feb. 6, 2015, webcast will focus on the future of US refining as various forces this year conspire to pull the industry in different directions. Lower oil prices generally reduce feedstock costs, but they have also lowered refiners’ returns, as 2015 begins with refined products priced at lows not seen in years. If lower per-barrel crude prices dampen production of lighter crudes among shale plays, what will happen to refiners’ plans to export more barrels of lighter crudes? And as always, refiners will be affected by government regulations, particularly those that suppress demand, increase costs, or limit access to markets or supply.

register:WEBCAST


Oil & Gas Journal’s Forecast & Review/Worldwide Pipeline Construction 2015

Fri, Jan 30, 2015

The  Forecast & Review/Worldwide Pipeline Construction 2015 Webcast will address Oil & Gas Journal’s outlooks for the oil market and pipeline construction in a year of turbulence. Based on two annual special reports, the webcast will be presented by OGJ Editor Bob Tippee and OGJ Managing Editor-Technology Chris Smith.
The Forecast & Review portion of the webcast will identify forces underlying the collapse in crude oil prices and assess prospects for changes essential to recovery—all in the context of geopolitical pressures buffeting the market.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected