Crimson Exploration Inc., Houston, has acquired 4,700 gross (4,600 net) acres in Madison County, Tex., contiguous to Madisonville field, bringing its total position in Madison and Grimes counties to 19,000 gross (15,500 net) acres.
Crimson plans to spud the Mosely-1H well, in which it has 86% working interest, by the end of 2011. The well is to have a 7,700-ft lateral in Cretaceous Woodbine at about 8,500 ft true vertical depth. The Woodbine oil play has seen a resurgence as a result of horizontal drilling and multistage frac technologies.
The company plans to keep the rig active throughout 2012 and believes the acreage to be prospective for a number of liquids-rich formations. They include the Austin chalk, Buda, Georgetown, Lewisville, and Glen Rose.
