Liberty Energy has announced plans to drill a new well at Alexander A Lease, Lockhart, Texas. The company has planned to develop the assets additionally by drilling a new test well aiming the Edwards shale play, after allowing multiple options and progress made on the Lockhart lease.
Liberty understands the potential of the lease through the ongoing drill works at the primary 3 wells as well as added testing and discussions with various consultants.
The company produces oil from the Edwards limestone structure, which lies beneath Eagle Ford Shale and Austin Chalk formations. Geologists believe Edwards as the original source of hydrocarbons, on which Eagle Ford Shale and Austin Chalk are present now.
According to the geological report, the wells drilled vertically can produce 40,000 to 50,000 bbls and horizontal wells produce 250,000 to 300,000 bbls. The company still works with consultants to get the best approach. A maximum of 60 wells must be adequate to exploit the play fully.
Source: http://www.energy-liberty.com/