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 Vandenberg & Hill
Pipeline Resources acquired a producing property in 1998, the Vandenberg & Hill lease. The lease is comprised of 995.85 acres and is located in Victoria County . When acquired the property had three producing wells and the potential for recompletions of several shut-in wells. In addition, the property had a proven history of production from the East Placedo Field, a prolific oil and gas field in the area. The East Placedo Field has producing reservoirs in the Greta - Carancahua Strandplain System, which extends through Jackson, Refugio and southern Victoria counties. The East Placedo Field produces from Miocene and Frio age sands trapped on a large anticlinal feature.
The field was discovered in 1937 and to date has produced over 13.6 MMBbls of oil and 15 BCF of gas from over 40 individual oil and gas reservoirs found at depths between 3500' and 6900'. The Vandenberg & Hill lease is the single largest producing lease in the East Placedo Field and to date has produced over 5.6 MMBbls of oil and 7 BCF of gas.
In the summer of 1998, Pipeline Resources participated in a 43 square mile 3-D seismic program in southern Victoria County which included the Vandenberg & Hill lease. The newly acquired seismic data interpretations along with subsurface geology, indicated additional development of this lease was necessary. The expected reserve potential from future development drilling is between 1 million Bbls of oil and 3 to 5 billion cubic feet of gas.
To date a total of eight wells have been drilled on the lease. Current production on the lease is 125 BOPD and 990 MMCF per day. Six new developmental wells are planned to be drilled on the acreage in 2005.
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