In December 2017, I graduated from Texas A&M University with a B.S. in Petroleum Engineering. During my tenure as a student, I prospected my own assets around Texas with the help of Texas A&M faculty members who I was able to consult and shape my engineering ideas with. Weeks before my graduation date, my partner and I came across an unconventional opportunity in South Texas that we both knew held significant upside potential. Reaching out to Dr. Thomas Blasingame from Texas A&M who I have always kept updated on my progress, I expressed to him how I needed Drillinginfo to perform a comprehensive analysis on this region in South Texas. Dr. Blasingame put me in touch with the founders of Drillinginfo and I was able to be granted student access to Drillinginfo to complete my analysis.
My partner and I began our research on a region in South Texas where a family friend owns a ranch with active drilling throughout his 16,000 acre property. Using Drillinginfo, we uncovered a region in the Maverick Basin that is prime for new generation Eagle Ford development.
Using grids and township blocks on the map layers of the web app, we were able to identify term leases suited for our area of interest. We found two term leases significant to our AOI: one lease that was already expired and another set to expire in May 2018. Able to pull the memorandums of each lease, we discovered that the current term lease on the property we were studying did not even lease the Eagle Ford in this area. This gave us confidence that we were dealing with acreage we could actually capture. I was able to perform all this diligence before even contacting a landman to check via the courthouse the availability of the land.
For our production analysis, we were able to identify two offset Eagle Ford wells less than a mile outside our area of interest. With comprehensive well cards Drillinginfo has on each well, we were able to identify the general characteristics regarding the two offset Eagle Ford wells in proximity to our area of interest. I was able to understand the operator’s completions program as well as identify formation depths, landing zones, and lateral lengths of these two wells. With both of these wells being brought online in 2011, I knew much time had passed in the industry that reduced drilling and completions costs, increased technological efficiency, and improved completions programs.
Looking at more recent wells in the same county, I located two Eagle Ford wells drilled in 2017 that had characteristics similar to the wellbore and completion design I am currently proposing. The decline curve and economics feature of Drillinginfo allowed me to run ROI models on both the offset wells nearby our AOI and compare them to the new generation wells I had found. The comparison of these wells have helped me in the boardroom show to my investors the upside potential of the new generation of Eagle Ford wells I am proposing.
I write this post in the middle of a round of funding, having spoken to various private equity firms and oil and gas companies about this project in hopes I can begin my career in oil and gas by drilling my first wells in the Eagle Ford. Drillinginfo has allowed me to perform a comprehensive analysis that I don’t believe would be possible to perform in any other point in time of our industry except in the Information Age. I am ever grateful to Mark Nibbelink, Allen Gilmer, and Dr. Thomas Blasingame for championing a young entrepreneur in his efforts to explore and produce hydrocarbons. I, along with the rest of the industry, have much more exploring to do in the years to come. Drillinginfo simply accelerates the process for all of us involved…especially the young and eager.
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