Track Record

Track Record

Roxanna has been involved in the search for early-entry resource plays since 2000. Roxanna has consulted for Shell Oil Company and Marathon Oil Company in an effort to bring them into large scale, North American resource plays, and is partnered with PetroHunt, Matador Resources and Longfellow Energy is several high-impact, early-entry resource plays.

Barnett Shale, Johnson County: In 2005, Roxanna recognized the extension of the play into Johnson County prior to the area being highly explored. Roxanna Oil purchased royalty interests in over 30,000 acres. The investment paid out in less than three years, and the area continues to hold some of the highest rate wells in the Barnett play.

Barnett Shale, Western Extension: In 2005, under contract to Shell, Roxanna identified an opportunity to acquire over 55,000 acres in the western extension of the Barnett in an area previously thought to be sub-mature. Shell later sold its interest for an undisclosed price, and Roxanna holds overriding royalties in approximately 25 wells in this area. The area is currently producing moderate to low rate gas with liquids.

Floyd/Neal Shale: Roxanna Associates developed a large play targeting the Floyd/Neal shale of Alabama and Mississippi for Shell. This shale was age-equivalent to the Barnett and thought to produce similar to the Barnett. Shell purchased over 30,000 acres in the play, and later sold its interest in the play for an undisclosed price.

Chainman Shale: Roxanna leased approximately 40,000 acres in the Chainman shale of Nevada in 2006 after identifying this shale as a potential gas shale resource play. Roxanna’s leases were one of the first leases acquired in the play, and targeted the thickest portion of the play. Roxanna purchased 10 year, 87.5% NRI leases and sold the leases to PetroHunt for cash and an ORRI on all existing and new leases acquired within a large AMI. PetroHunt has continued to lease and holds over 300,000 acres in the play. Numerous companies have now entered the play, three wells have been drilled and more planned, however, there have been no completions to date.

Marcellus Shale: Marathon Oil Company contracted Roxanna to find and develop a large-scale resource play in the Appalachian Basin in early 2007.  After evaluating numerous shales in the entire basin, Roxanna recommended the Marcellus shale as the best target in the basin. At the time, only three wells had produced from the Marcellus and the play had not yet been discovered by industry.  Marathon began leasing in 2007, and acquired approximately 80,000 acres in the play. Marathon has recently announced a partnership with Triana (formerly, Columbia Natural Gas).  Terms of the deal have not been disclosed, however, Triana has announced they will be drilling four wells in the 4Q 2011 as commitment wells. Acreage value in this world class shale play have increased 20-times since Marathon began leasing in 2007.  Roxanna has an ORRI in all leases.

Woodford Shale Oil Play: Roxanna began searching for oil resource plays in 2009, and generated a play targeting the Woodford Shale in Oklahoma. The company picked up 3,500 acres in the play, and sold the play to Longfellow Energy, retaining a 10% WI and ORRI in a 150,000 acre AMI. Roxanna and Longfellow have jointly leased an additional 25,000 acres. In this area, the Mississippi Lime has recently become the exploration focus, and several wells have been permitted on this acreage. Numerous large operators have leases surrounding our position, including Devon.

Meade Peak Shale: Roxanna identified this gas-rich source rock play in 2006, and partnered with Matador Resources to acquire over 140,000 acres. Bill Barrett Corp, Gary Williams Exploration and Fortuna (Talisman) later acquired large positions surrounding this acreage. The first well has been drilled and cored, with analysis underway.