Cabot just announced an acquisition of 30k acres, 17k of which are near it's Buckhorn area (Frio and Atascosa).
Is there any speculation about who they bought it from or where it is in relation to their existing Buckhorn wells?
I am wondering if one of the following was the seller:
Texas American Resources
These companies all have acreage in the vicinity.
Is it possible to compare and contrast production from one of Cabot's typical Buckhorn wells in the middle section (like an RH Pickens well) with production from a typical well in the Northern portion of Buckhorn (such as one of the Chillipitin oil wells - a Chillipitin EF well, not one of the Chillipitin Osaka Pearsall wells).
Could have been Cinco - they had their Atascosa block up for sealed bid earlier this year.
Comparing performance from historical Cabot wells is obviously do-able, but the issue is how to you figure in impact of drilling and completion improvements over time?
They have had a steep learning curve and lots of issues early on
Thanks for the info Mark and Brent....
I guess after awhile we will find out exactly where the acreage is. It may be Cinco, but not so sure. One of the press releases says the 17k is directly adjacent to Buckhorn and Cinco's Atascosa block is significantly East and not adjacent. Of course, maybe the press release was a little off, who knows.
The yellow oval on the presentation slide, which is labeled Buckhorn is intriguing because it stretches up farther north on the Frio/Atascosa line than the previous Buckhorn yellow oval. . This new oval appears to stretch up to include the Bigfoot area. Maybe it's a typo, who knows?
Where oh where are these 17k acres? I will let ya'll know when I find out.
I do understand your point, Brent, about how the attributes of a typical well keep evolving. They have permitted another Chilipitin somewhat recently and I will be curious how that one compares to their early Chilipitins since they have been altering and tweaking their drilling plans.
Future Cabot presentations will show this new acreage - disclosure probably covered by various confidentiality issues right now.
The outline is extremely broad and generalized - I can almost guarantee that the big Foot area is not part of Cabot's AOI
I was thinking that Cabot would be a seller of EF rights - guess I was 180 degrees off on this (at least for now)
Cabot picking up more EF oil gets more to balancing their portfolio with respect to gas vs oil areas
I believe that Cabot bought the EF Energy position in Frio and Wilson Counties. In Frio County, the EF Energy acreage directly butts up to the Cabot Buckhorn acreage position.
Very interesting! Thanks.