Beowulf Prospect (Northern DJ Basin acreage) in Laramie County, WY.
-- ~70% WI (83.5% NRl 8/8ths)
-- ~12,330 Gross Acres (~10,220 Net Acres)
-- Primary term through 2019 (50% of leases with 3-year extension)
-- Leasehold established for dual length laterals. 66 wells permitted and ready to drill.
-- Petrophysically defined area: 20’ - 40’ of high net pay. High temperature gradient along oil migration pathway. Thermally mature source rocks above and below.
The company has analyzed triple combo well logs to map the subsurface for hydrocarbon pay. Subsurface maps show a similar step-out compared to traditional activity in the Northern DJ Basin. Reservoir Characteristics around the position is a geological analogue to the Wattenberg Field and is petrophysically defined with high net pay, high temperature gradient & high OOIP.
Codell Sandstone thickens to the North from the Wattenberg field in Weld County, Colorado to Laramie County, WY. Lower water saturation, GOR and clay content near the position compared to the Wattenberg Field.
Activity has been led by EOG, Kaiser-Francis, Ward & Samson/Cirque. Operators originally targeted the Niobrara but with recent advances in frac design and high performance of test wells the Codell has become the primary target in Laramie County, WY.
Codell's reservoir characteristics around the position is a geological analogue to the Wattenberg Field. Codell Sandstone thickens to the North from the Watternberg Field in Weld County, Colorado to Laramie County, Wyoming.