TXCO Resources outlines $100-110 million budget

By OGJ editors
HOUSTON, Dec. 27 -- TXCO Resources Inc. approved a $100-110 million capital expenditure budget and drilling program for 2008 compared with a $72.4 million budget for 2007.

Formerly known as Exploration Co., TXCO of San Antonio noted that the budget could be revised based on drilling changes by partners, rig availability, drilling results, unanticipated transactions, and market fluctuations.

The Glen Rose formation, including the Maverick Basin's prolific Porosity oil play, is slated to receive the largest share of the budget—about $40.7 million for 35 wells, including 10 reentries.

Texas Fort Trinidad field in East Texas is slated for $12.5 million for 10 wells targeting TXCO's Glen Rose B shoal gas play.

Related Articles

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...

Exploration Co. sets record capital budget

12/22/2005 The Exploration Co., San Antonio, set a record $40-50 million capital budget for 2006 and warned that rig availability might dictate revisions.

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