Leighton - USA
Global has an interest in 11 producing wells in the Leighton Project area, in McMullen County, Texas, USA.
Olmos Reservoir
In October 2011 Global announced its intention to sell its interests in the Olmos formation and in March 2012 it completed a Sale and Purchase Agreement for its interest with a US based purchaser, SV Resource Partners LLC.
Global had a 15% working interest (11.25% net revenue interest) in approximately 873 acres from the surface down to the stratigraphic equivalent of the Olmos formation at the Leighton Project. There were 9 producing wells in which Global had an interest.
Eagle Ford Shale
In August 2010, Global reached agreement with Texon Petroleum Ltd to simplify the ownership arrangements for Eagle Ford wells that would straddle areas of differing ownership, by cross assigning lease holdings across the expanded contract area. Under the amended Participation Agreement the contract area of the Leighton prospect has been expanded to 1,651 acres for all depths beneath the Olmos Formation. Global owns an undivided 7.939% Working Interest (5.95% net revenue interest) across the expanded area.
The first Eagle Ford well, Tyler Ranch EFS #1H, was drilled to a depth of 10,670ft and 4,500ft horizontally within the Eagle Ford reservoir. Following fracture stimulation and production testing, the well had an initial flow rate of 1,267 boepd representing 1,202 bpd of light sweet crude oil and 782 mcfpd with a flowing tubing pressure of 2,610 psi on a 16/64” choke.
The second Eagle Ford well, Tyler Ranch EFS #2H, is located immediately to the north of Tyler Ranch #1H and was drilled to a depth of 15,767ft and 4,500ft horizontally within the Eagle Ford reservoir. Following fracture stimulation and production testing, the well had an initial flow rate of 1,605 boepd representing 1,488 bopd and 700 mcfpd with a flowing tubing pressure of 3,000 psi on a 16/64" choke.
Global has a 7.939% working interest in the wells and a beneficial interest (NRI) in the production of 5.95%.
In February 2012 Global announced it was seeking buyers for its interest in the Eagle Ford wells and associated acreage.
Glossary
| Abbreviation | Definition |
|---|---|
| bbl | Barrel |
| bo | Barrels of oil |
| boepd | Barrels of oil equivalent per day (including gas converted to oil equiv barrels on basis of 6 mcf to 1 barrel of oil equivalent) |
| bopd | Barrels of oil per day |
| mcf | Thousand cubic feet |
| mcfg | Thousand cubic feet of gas |
| mcfgpd | Thousand cubic feet of gas per day |
| mmbtu | Million British thermal units |
| NRI | Net Revenue Interest |
