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Pandura Prospect
Daytona Energy Corporation has leased the 420 acre Pandura
prospect, located in Webb County, Texas within the Wilcox Lobo
producing trend. Daytona will drill a stepout well, the
Kathleen Marie #2 to the southeast of an existing producing
well to test the Wilcox Lobo and Navarro sands.
The Pandura prospect is located in extreme southwest Webb
County on the Rio Grande River slightly northwest of the
Zapata county line. The project is located on the Rio Grande
river flood plain in relatively flat topography, with easy
access to Laredo. A pipeline to the existing wells, 1700’
away, has sufficient excess capacity to handle additional
input.
The prospect is located in the heart of Lobo production for
both Mexico and Texas. The prospect is further defined with
reprocessed 2D seismic and wells. Potential pay zones include
the 6400’ sand, productive in directly offset wells, Lobo 3
and Lobo 6 sand targets, and the Navarro sand, which is
productive on the US side of the Rio Grande and even more
productive on the Mexican side with production from single
wells exceeding 9 BCF.
The step-out and exploratory potential of all the zones, on
this acreage, is on the order of 20+ BCF.
Nearby Production: The location is in the heart of Eocene age
Lower Wilcox Lobo sand production. The adjacent Laredo Field
was discovered in 1976 and to date has produced in excess of
740 BCF with 4 MMBO. Across the Rio Grande River in Mexico,
Pemex is still developing their Pandura, Corindon and Oasis
Fields, which have both Lobo and Cretaceous Navarro
production. These fields were discovered in 1972, and
cumulative production from Mexico is reportedly over 300 BCF,
with reported flow rates ranging from <1 to 10 mmcfpd.
Continued drilling across the border and Pemex reports confirm
that this area is considered a high value development area. |
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