Australian oil and gas company Titan Energy Ltd announces expansion to another proven salt dome, as well as a substantial increase in acreage holdings in Allen Dome.
Titan acquires Boling Dome acreage
Titan has successfully acquired 850 net acres (1724 gross acres) on the south-western flank of Boling Dome, southwest of Houston, Texas. In the late 1920's, Texaco drilled a considerable number of successful wells on the acquired acreage followed by a group of independent operators throughout the 1980's.
The Company is of the view that these tracts hold considerable in-field development within the proven trends on the property. Target depths range from 3,500 feet to 7,500 feet in the Miocene and Frio sand formations. Once a comprehensive geological review has been completed further information will be disclosed. Titan holds a 100% Working Interest in the primary tracts where previous development had occurred.