Shoal Point Energy has partnered with Shelby Resources to explore the Mount Evans prospect in Kansas. The primary target is the Pawnee Sandstone. Nine wells in the immediate vicinity have produced an average of more than 170,000 barrels of oil per well from a depth of approximately 4,000 feet.
Shelby Resources is a private company and has an impressive track record having drilled 230 wells since 1995 with an overall success rate of 70%. Under the terms of the agreement, Shoal Point can earn a 65% working interest of an 80% net revenue interest.
The Plan – Target Generation
- Shoal Point to finance a 3D seismic shoot over approximately 5,700 acres
- Shoal Point to finance drilling the first well to casing point to a depth of approximately 4,700 feet or the bottom of the Arbuckle Formation
Completing and equipping the first well and all operations on subsequent wells will be paid for by Shoal Point proportionate to its 65% working interest. The Area of Mutual Interest is 121 square miles.
The Mt. Evans Prospect is defined by existing well control, wells vintage early sixties. No modern seismic has been shot. Several large undrilled prospective areas have been identified through surface and subsurface mapping. Each area could contain multiple structural features similar in size to the established production.
This play concept is a combination of structure and stratigraphy which can be identified using 3D seismic data. Based on historical production, each feature that is identified on seismic data could result in 2-5 wells per feature. Shelby Resources, LLC has acquired leases and is proposing approximately 12 square miles of seismic data.
Location – Easy Pipeline Access to Market
Presentation – Mount Evans, Kansas