Dallas-based Gulf Coast Western has secured approximately 3,500 acres in Wilson County, Texas. The company plans to initially drill 10 horizontal wells in the revitalized Buda Limestone Formation, which is located just below the Eagle Ford Shale. Gulf Coast Western explores, develops and acquires domestic oil and gas reserves primarily in the Gulf Coast region of the United States.
'We are very excited to launch a horizontal drilling program in the revitalized Buda Limestone Play,' said Gulf Coast Western CEO Matthew H. Fleeger. 'We believe there is tremendous opportunity in this play, given the fact that it is a proven trend and there is not the need to incur the high cost of fractionating the wells as is necessary in the Eagle Ford. Additionally, the horizontal wells currently in production in this area are experiencing impressive production rates of up to 1,500 barrels of oil per day, which has spurred significant interest in drilling in this area. We are pleased to be among the companies that have recognized the revitalized potential of this formation early on and have been fortunate to secure a large acreage position in the play.'