By OGJ editors
HOUSTON, July 12 -- TX Holdings Inc. believes 2 years of development can lift production to nearly 3,000 b/d from Eastland County, Tex., leases in which it has acquired a 60% working interest.
TX Holdings said 28 of 36 wells on four leases covering 247 acres can be recompleted or worked over. Other wells will be used for injection or supply. TX Holdings is based in Miami Beach, Fla.
The company estimates reserves of the leases at 19 million bbl, of which 7.2 million bbl is proved, developed, behind pipe.
TX Holding expects the work to be completed by the third quarter.
The leases are believed to have pay zones in five areas at depths less than 1,000 ft.