North Chapman Ranch project, onshore Texas, USA
Introduction
In September 2009, Range acquired participation interests in the North Chapman Ranch project in Nueces County, Texas from Crest Resources Inc., a US-based private oil and gas company.
This consisted of a 25% interest in the North Chapman Ranch project’s first well – Smith #1 – and 20% in all subsequent wells assuming the exercise of certain clawback provisions by joint venture partners based on the current success of the Smith #1 well.
The North Chapman Ranch project area encompasses approximately 1,680 acres in one of the most prolific oil and gas producing trends in the state of Texas.
North Chapman Ranch Background
The North Chapman Ranch is situated within the prolific Frio producing trend just north of the Chapman Ranch in the Mobil David and Doughty Fields. The Mobil David field was discovered in 1965 when Mobil drilled the Chapman #1B well and completed the well in the Laureles Sand (now the Howell Hight). To date, an estimated 250 billion cubic feet of natural gas and more than 10 million barrels of oil have been produced from this field, primarily from the Anderson sandstone. Recently, several operators in the area have been successfully developing the deeper Howell Hight formation with some wells exhibiting flow rates in the 6‐9 million cubic feet per day range.
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