East Texas Cotton Valley reef play expanding

The hot East Texas Jurassic Cotton Valley pinnacle reef play keeps getting hotter. An affiliate of MCN Corp., Detroit, paid $28 million for an 82% interest in Broughton Associates LP, Houston. Broughton claims the trend's largest acreage holding, 300,000 gross acres, in the heart of the trend in Freestone, Leon, and Robertson counties. Broughton owns 50% of Broughton Associates Joint Venture, with the other half believed to be owned by the trend's leading well operator, Marathon Oil Co. Broughton has participated in three significant trend discoveries in Robertson County and plans to operate or participate in 17 more exploratory tests this year. Broughton had not oper...

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