NEOS GeoSolutions, Inc. has secured the underwriting needed to launch an integrated geological and geophysical program in a roughly 1,100 square mile area of the Austin Chalk, an Upper Cretaceous geologic formation that extends from the Rio Grande eastward through southeast Texas, central Louisiana, and southern Mississippi. The Eagle Ford and Tuscaloosa Marine shales underlie the Austin Chalk in many areas. The specific program area cannot be disclosed at present.
Lance Moreland, Director of Business Development for NEOS, commented, 'We'll be acquiring new airborne geophysical datasets - magnetic, electromagnetic, radiometric, and gravity - and integrating these with existing seismic and adjacent well information. This neoBASIN survey has been designed to provide high-value, basement-to-surface insights so that our lead underwriter can better evaluate possible play extensions and identify the most prospective locations for future exploitation and development.'