Arabella Exploration, Inc. has backed into ownership on additional acreage in Pecos and Reeves County in the Southern Delaware Basin. Arabella has owned a reversionary interest in certain acres controlled by Brigham Resources Operating, LLC (Brigham). Once Arabella's portion of the expenses to date of drilling and leasehold costs were paid, the interests reverted into standard non-operated, working interests in these wells and properties.
With this reversion, Arabella has backed into a 1.371% working interest in 15,000 gross, 11,773 net, acres held by Brigham in the Delaware Basin. Arabella's interest amounts to 206 gross and 161 net acres. There are currently two vertical wells, one horizontal well and one extended reach horizontal well producing on this project. The Company's working interest entitles it to its pro rata share of the revenue and reserves attached to those wells. Arabella believes that Brigham intends to drill additional wells on this project.