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FUTURE HORIZONTAL REDRILLING
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MIDDLE AND SHORT RADIUS HORIZONTAL DRILLING TECHNOLOGY
A large number of older horizontally drilled wells were drilled with only one lateral in the approximately 750' thick Austin Chalk interval. Long involvement with horizontal drilling has given our team the opportunity to observe that although significant amounts of known hydrocarbons are being recovered by re-entry re-completion programs presently being conducted in the Austin Chalk, substantial amounts of oil and gas remain unrecovered in many wells previously drilled utilizing medium radius horizontal drilling technology. Additional oil and gas reserves will be recovered by drilling new laterals using either medium radius or recently developed short radius technology in horizontal wells previously drilled with only one lateral.
Through an extensive research program, HEC has selected areas within the highly profitable Giddings Field to take advantage of the short radius horizontal capabilities to access undeveloped reservoirs that are located by extensive seismic and well control. In Buda wells, undeveloped reserves should exceed 60,000 BOE per well. Undeveloped oil and gas reserves should range between 75,000 to 200,000 Barrel Oil Equivalent for wells in the Upper Austin Chalk.
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FUTURE SHORT RADIUS HORIZONTAL DRILLING
In summary, it some areas, the upper Austin Chalk are very productive. In fact, the best vertical well in the Giddings Field (Hilliard #1) encountered only the top sixty feet of the 800 foot Austin Chalk interval. Hilliard #1 has produced 887,047 barrels of oil and 4,737,659 MCF gas, totaling 1,455,794 barrel oil equivalent.
It is possible for a fault to be less than 1000 feet away from a highly productive (but now partially depleted) fault but still have close to original pressures. A considerable part of the future program will be to develop these upper Austin Chalk faults.
The development of short radius tools is a significant breakthrough. It is important to know thick unstable shale overlies the upper Austin Chalk. Since the base of upper Austin Chalk is only 2OO feet below the shale, it is technically feasible to drill horizontally with medium radius tools to drill the upper Austin Chalk but these tools are modified by HEC to be able to turn eighty foot curves using short radius tools. Short radius tools can kick off below this shale from existing vertical well bores.
HEC is noted for its expertise to locate faults which often induce fracturing. This has always been the advantage Holifield has possessed. HEC will concentrate upon drilling multiple short radius laterals to encounter higher pressure undepleted faults. The Austin Chalk has many shale intervals serving as barriers to vertical migration of oil. It is possible for the lower part of the lower Austin Chalk to be depleted but the upper Austin Chalk to have original pressures if no large faults allow fluids to move downward into the lower Austin Chalk.
It is in the business plan for HEC to purchase smaller size oil companies to gain access to un-drilled faults in existing wells. Information has been worked up for many wells that are potentially productive.
Affiliates of HEC have purchased a small interest in hundreds of wells in the Giddings Field during the past twenty years. As a working interest owner in such wells, HEC has access to these wells for the affiliates may the right to propose horizontal drilling in such marginal wells. Most wells like this almost always have a large number of working interest owners willing to sell out for a reasonable price. Some of these wells can be obtained by normal oil field farm-out agreements.
CURRENT PROJECT INFORMATION
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