BlackBrush, Terrace to extend Olmos horizontal program

BlackBrush Oil & Gas LP and Terrace Energy Corp., Vancouver, BC, plan to continue aggressive development in 2014 on the South Texas STS Olmos sandstone horizontal oil and gas project, which Terrace Energy has the potential to support 60 offset locations.

The sixth and most recent horizontal completion, STS AW A1-17H well, stabilized at 627 b/d of oil and 2.6 MMcfd of liquids-rich gas after less than 5% load recovery from an 18-stage frac. The well went to 14,215 ft measured depth including a 4,300-ft horizontal section in the target zone, Terrace Energy said.

All of the wells in the project, in LaSalle and McMullen counties west of the southern part of giant AWP (Olmos) field, are to be tied into the wet gas gathering system located on the STS project and delivered to a gas processing plant.

Based on the current test rate, plant liquids recoverable are expected to effectively increase the well’s revenue stream to more than 1,200 b/d of oil equivalent, Terrace Energy said.

The next most recent well, SP5 1-16H, recovered more than 27,000 boe in its first 30 days of production. Terrace holds a 33.33% working interest and a 25% net revenue interest in the SP5 1-16H.

The partners have drilled SPS AW A1-27H, final well in the 2013 program, and fracing and completion are set for early October.

Terrace Energy holds a 16.67% working interest and a 12.50% net revenue interest in the 17H well and a 37.2% working interest and a 27.9% net revenue interest in the SP5 AW A1-27H. The company purchased an average 26.88% working interest and a 20.16% net revenue interest in 14,400 gross acres in the STS project.

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