Texas-South

By OGJ editors
HOUSTON, Aug. 23
– Eagleford Energy Inc., Toronto, is to acquire Dyami Energy LLC of Texas, for $4.1 million.

Dyami’s assets include a 75% working interest (61.5% after payout) in the 2,629-gross acre Matthews lease and working interests of 90-97% in the 2,637-gross acre Murpyy lease, both in Zavala County, Tex., in the Maverick basin.

The leases are downdip from the US Geological Survey’s north boundary of the Smackover-Austin-Eagle Ford Total Petroleum System. Eric Johnson, Dyami vice-president of Operations, said Dyami believes both leases to be highly prospective for hydrocarbons in the Eagle Ford shale and other formations.

The Matthews lease is surrounded by the Red Hawk block, where Petrohawk Energy Corp. had initial production of 355 b/d of oil from the Mustang Ranch C-1 horizontal well. The Murphy lease is 11 miles northeast of Chesapeake Energy Corp.’s Traylor North 1-H well, which had initial production of 930 b/d.

Dyami has logs that show 380 ft of Upper and Lower Eagle Ford shale on the Matthews lease, of which 160 ft is the organically richer Lower Eagle Ford. Previous engineering reports indicate that the Cretaceous San Miguel formation contains 70 million bbl of heavy oil in the San Miguel D sands and another 80 million bbl of heavy oil in the San Miguel A, B, and C sands on Matthews.

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