MPG
Petroleum, Inc.
Current
as well as upcoming oil and gas investment opportunities.
The Pearl Prospect targets world-class sized reserves of
oil and gas. 500 Million Barrels of Oil Equivalent (BOE)
in potential reserves have been estimated here which is
in line with the analogous Mars, Mensa, Auger and Atlantis
Field discoveries which have been made by Shell, BP-Amoco
and Chevron-Texaco in the (ultra) deep offshore waters of
the upper Gulf of Mexico. The Pearl Prospect is located
on land and on near shore lands was originated using 2-D
seismic data. A 3-D seismic data set has been acquired and
is being expanded to support the development of this prospect. The Pearl Prospect appears to cover in excess of
10,000 acres of land and will support the drilling of a
test well to a depth of 19,000 feet. The Pearl Prospect
represents an opportunity for those other than the 'majors'
to participate in the exploration and discovery of "offshore
reserve size at onshore finding cost".
The McClary Prospect targets shallow gas reserves above 5000 feet and is supported by a 3D seismic amplitude anomaly in two potential pay sands. There has a history of shallow gas production in the nearby vicinity.
The Callaboose Field is located approximately 2 miles northwest of the McClary Prospect. Here a number of shallow gas wells have produced prolifically from 3 pay sands in the “Catahoula” formation.
MPG Petroleum, Inc. has acquired the authority from the Texas Railroad Commission to operate the wellbores known as the Nos. 2, 3, 4 and 5 Brammer well, located in the Ginny, East Field, San Patricio County, Texas. The Ginny, E. field was discovered on April 1, 1965 when Southwestern Oil and Refining Company completed its No. 1 J. L. Brammer well. This well, along with the Nos. 2, 3 and 4 Brammer wells were completed as oil wells in the 7650' Sand and the 7450' Sand, named locally for the Ginny, East field. The 7650' Sand reservoir produced 420,128 barrels and the 7450' Sand reservoir produced 605,143 barrels cumulatively. The total production of 1,025,271 barrels of oil was produced from the Nos. 1 - 4 Brammer wells, or 256,318 barrels of oil per well.
No. 3 Brammer well will be re-entered for the purpose of attempting to re-establish oil and gas production. Three separate pay sands are anticipated to be productive.
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