Roxanna has acquired over 24,000 acres in the Pendleton Field of Sabine Parish, Louisiana re-development project. We have drilled four horizontal wells in this highly fractured, vertically developed field that was discovered in the early ‘60’s and has produced over 40 MMBO of 40o gravity crude at depths of 3,500’. We have drilled a vertical well that extended our primary lease term until Sept. 2022 and our work program to significantly increase the Field Level Operating Profit (FLOP) is underway which includes a well to a water disposal well in 1Q2020.
Roxanna operated the first horizontal well in the Fall City Field of Nebraska, doubling the total field production with this well. Using our understanding of complex reservoirs and our proprietary drilling and completion methodology, we were able to optimally steer our well, and complete in areas of unswept oil.
Roxanna generated this large, 50,000 acre play targeting the Gothic and Hovenweep shales in the oil window of the Paradox basin while under contract with Kimmeridge Energy partners. Kimmeridge drilled and cored two wells confirming large oil in place volumes from both the shales and adjacent carbonate members.
Roxanna identified a large, tight carbonate play targeting the Spergen dolomite on the Las Animas Arch. Kimmeridge acquired over 50,000 and have taken over 300’ of core.
Roxanna generated the New Albany shale play, during a time when the New Albany was only considered a shallow, biogenic gas play. Over 85,000 acres were leased and several horizontal wells have been drilled targeting both the New Albany and the Mississipian carbonates.
Roxanna generated and acquired an early entry position in the Woodford shale/Miss Lime play in Kingfisher and Garfield Counties, Oklahoma prior to any horizontal completions in the play. Roxanna partnered with Longfellow Energy who has drilled over 100 horizontal wells. Roxanna currently holds a royalty position in over 60,000 acres held by production, currently operated by SK Nemaha.
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.
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. One horizontal well was drilled and completed in the shale finding non-commercial quantities of gas.
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 shale. Our leases were sold to PetroHunt in the same year.
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.
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.