8
GLADIOLA PROSPECT LEA COUNTY, NEW MEXICO GLADIOLA PROSPECT LEA COUNTY, NEW MEXICO LEASE ACREAGE AVAILABLE: 320 SEISMIC IDENTIFIED MULTIPAY FEATURE WOLFCAMP - ABO / PENN / DEVONIAN OPERATOR: SOJOURNER ALL COSTS THRU 1/3 FOR 1/4 TO CASING POINT FIRST WELL AFE DRILL 1.6MM COMP 1MM TD 12,500' COCHRANHOCKLEY LUBBOCK CROSBY DICKENS KING YOAKUM TERRY LYNN GARZA KENT STONEWALL GAINES DAWSON BORDEN SCURRY FISHER JONES ANDREWS MARTIN HOWARD MITCHELL NOLAN TAYLOR WINKLER ECTOR MIDLAND GLASSCOCK STERLING CULBERSON COKE RUNNELS REEVES LOVING TOM GREEN WARD CRANE UPTON REAGAN IRION PECOS JEFF DAVIS CROCKETT SCHLEICHER MENARD BREWSTER SUTTON TERRELL Roosevelt Chaves Lea Eddy San Simon Channel Ozona Arch Northwest Shelf Midland Basin Eastern Shelf Delaware Basin Central Basin Platform New New Mexico Mexico Texas Texas ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! μ ! ! ª 0 ª ª ª 0 ª ª ª ! ª ª μ ! ! 9 μ ª D ª ª ª D 9 9 ! 9 ª 9 9 ! , ! μ ! ª ! ª μ ª Ä 0 0 0 ! ª ª ! ª ! μ ! ! 0 ª 9 D ª ! 9 9 ª μ ! 9 ª ª μ ª ª ! ª ª ª 0 D Ä ! 0 9 ª ! 9 ª ª ! ! 9 9 9 ª 9 9 ª 0 ª ª ª ª ! ª ª + 0 ! Ä ª ª ! ª ! ! ª 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 ! ª ! Ä 9 ! ! ª 9 9 9 9 9 9 9 9 9 ª ! ! ª ª 9 0 0 ! 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 μ + ! 9 9 9 9 9 9 ! 9 9 ! 0 ª ª 9 9 ! ª 9 ª ª ! 9 9 9 ª ! ! ª ! ! ! ! 0 9 9 9 9 9 9 9 9 9 ª ª ª ! ª ª ª MidCon Line 1 - 2014 9 416 160 5 332 416 120 312 331 656 607 385 480 362 676 537 830 347 29 1,034 1,170 871 129 1,032 523 367 1,335 0 19 39 661 64 30 353 101 0 24 411 365 330 2,155 1,431 1,076 739 749 635 289 1,255 8 144 0 126 197 813 27 0 9 0 3 1 42 172 0 52 1 51 60 4 53 96 127 93 26 109 104 66 36 34 7 234 140 149 207 348 194 103 92 63 179 50 387 152 141 169 94 297 70 83 132 109 0 41 51 0 0 0 0 12 0 24 25 189 197 22 136 99 162 36 67 0 20 72 62 GLADIOLA 18 17 13 15 16 14 16 15 18 17 19 20 21 22 20 21 22 23 24 19 30 29 28 27 27 26 25 28 29 30 32 33 34 31 32 33 31 34 35 36 4 3 5 2 1 6 6 3 5 4 8 9 10 7 7 9 10 11 12 8 18 17 15 16 18 15 14 13 17 16 20 21 19 19 24 22 20 21 22 23 28 27 30 29 25 30 29 27 26 28 Lea Lea County County 12S 38E 12S 37E 13S 38E 13S 37E New New Mexico Mexico 0 3,000 6,000 9,000 12,000 15,000 18,000 1,500 Feet 1:52,109 1 inch = 4,342 feet Legend = Location (Permit) 8 Drilling in Progress ! Oil Well È Gas Well 1 Oil & Gas Well μ Dry w/Oil Shows + Dry w/Gas Shows 0 Dry w/Oil & Gas Shows ª Dry Hole ¸ 1 Injection Q Suspended , Plugged Gas Well 9 Plugged Oil Well 2 Plugged Oil & Gas Well D Abandoned Location Ä Unclassified, Co2, etc. ! UNKNOWN ! PERMIAN ! LEONARD ! WOLFCAMP ! PENNSYLVANIAN ! MISSISSIPPIAN ! DEVONIAN ! SILURIAN ! ORDOVICIAN + , Spud Since Jan. 2014 = Permit Since Jan. 2014 r

GLADIOLA PROSPECT LEA COUNTY, NEW MEXICOmidcongeo.com/2015_07 South Gladiola Prospect.pdf · gladiola prospect lea county, new mexico gladiola prospect lea county, new mexico lease

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Page 1: GLADIOLA PROSPECT LEA COUNTY, NEW MEXICOmidcongeo.com/2015_07 South Gladiola Prospect.pdf · gladiola prospect lea county, new mexico gladiola prospect lea county, new mexico lease

GLADIOLA PROSPECTLEA COUNTY, NEW MEXICO

GLADIOLA PROSPECTLEA COUNTY, NEW MEXICOLEASE ACREAGE AVAILABLE: 320SEISMIC IDENTIFIED MULTIPAY FEATUREWOLFCAMP - ABO / PENN / DEVONIANOPERATOR: SOJOURNERALL COSTS THRU 1/3 FOR 1/4 TOCASING POINT FIRST WELLAFE DRILL 1.6MM

COMP 1MMTD 12,500'

COCHRANHOCKLEY LUBBOCKCROSBY

DICKENS KING

YOAKUM TERRY

LY NN

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L e aL e aC o u n t yC o u n t y

12S 38E12S 37E

13S 38E13S 37E

N e wN e wM e x i c oM e x i c o

0 3,000 6,000 9,000 12,000 15,000 18,0001,500Feet

1:52,1091 inch = 4,342 feet

Legend= Location (Permit)

8 Drilling in Progress

! Oil Well

È Gas Well

1 Oil & Gas Well

µ Dry w/Oil Shows

+ Dry w/Gas Shows

0 Dry w/Oil & Gas Shows

ª Dry Hole

1̧ Injection

Q Suspended

, Plugged Gas Well

9 Plugged Oil Well

2 Plugged Oil & Gas Well

D Abandoned Location

Ä Unclassified, Co2, etc.

! UNKNOWN

! PERMIAN

! LEONARD

! WOLFCAMP

! PENNSYLVANIAN

! MISSISSIPPIAN

! DEVONIAN

! SILURIAN

! ORDOVICIAN +

, Spud Since Jan. 2014

= Permit Since Jan. 2014

r

User
Text Box
A'
User
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A
User
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1.22 MM
User
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900 M
User
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Total AFE: 2.1 MM TD 12,500'
User
Rectangle
User
Text Box
Producion labeled in MBOE
Page 2: GLADIOLA PROSPECT LEA COUNTY, NEW MEXICOmidcongeo.com/2015_07 South Gladiola Prospect.pdf · gladiola prospect lea county, new mexico gladiola prospect lea county, new mexico lease

South Gladiola Prospect Lea County, New Mexico 

GEOLOGY 

12,250’ Proposed TD

The Gladiola South prospect is a multi‐pay prospect targeting the Devonian, Atoka/Penn sands, and Wolfcamp/Abo 

Carbonate.   The primary target, the karsted Devonian has been a very prolific oil producer in the area with several 

wells potentialing at over 700 BOPD and cumulatives of over 1 million barrels of oil per well.   The Gladiola South 

prospect is located in sections 1 and 2 of T13S R37E, approximately  1.5 miles south of the Southwest Gladiola field 

which has produced 4.2 MMBOe from the Devonian(9 wells), 477 MBOE from the Penn Sand(5 wells) and 1.58 

MMBOE from the Wolcamp/Abo carbonate(6 wells).    

Devonian 

The Devonian is unconformably overlain by the Woodford Shale and is comprised of highly leached and karsted 

dolomite.    Porosity and permeability are encountered on and off structure in the area, with the on‐structure wells 

drill stem testing very large volumes of oil and off structure wells drill stem testing very large volumes of water.   

The prospect is seismic identified; four way trap on the top of the Devonian with 60 feet of structural closure.    It 

is important to note that every structure lying within this seismic interpreted area that has been drilled (albeit 

drilled before the shooting of the seismic), has been a prolific oil producer from the Devonian.   

Although the prospect is 70 acres, it is a very similar size and relief as the Stallion field, which has produced over 

730 MBOE from 2 wells (90% form the higher well).    Because of its proximity to Stallion field and structural/size 

similarity, we are projecting the Southwest Gladiola prospect to produce 500,000‐ 700,000 BOE from the Siluro 

Devonian. 

Atoka/Penn Sands 

The Atoka/Penn sands produce on the Southwest Gladiola structure and made 477 MBOE.   These sands are seen 

in an offset well and should be productive on the prospect structure with reserves estimated at 100 MBOE. 

Wolfcamp/Abo Carbonate 

The Wolfcamp/Abo carbonate produces from dolomitized “patch reefs” of the Lower Wolfcamp on structure in the 

area with the Southwest Gladiola Field Wolfcamp producing 1.58 MMBOE.  The Wolfcamp/Abo should be 

productive on the prospect structure with reserves estimated at 125 MBOE. 

Subject to Prior Sale. 

South Gladiola ProspectLea County, New Mexico 

Prospect Summary 

Upon execution of a Participation Agreement, Participant will pay its proportionateshare of the sum of Four Hundred Forty‐Nine Thousand and no/100 Dollars($449,000.00) for land and seismic costs and Fifty Thousand and no/100 Dollars($50,000.00) for G&G cost for a total of Four Hundred Ninety‐Nine Thousand andno/100 Dollars ($499,000.00).  This sum includes costs to date for acreage acquisition,Drilling Title Opinion and title curative, and hearings at the New Mexico Oil ConservationDivision.

Participant will pay third for a quarter on all costs described above and drillingcosts to casing point on the first well.

The leases will be assigned to Participant at a seventy‐five percent (75%) netrevenue.

Operator will be Sojourner Drilling Corporation and will operate under an AAPL 1989Form Operating Agreement.

This prospect is subject to prior sale and/or withdrawal without notice. 

For Project Details contact: 

Sojourner Drilling Corporation Mid‐Continent Geological, Inc. 

William Sojourner Jerry S. Stokes 

Office (325) 672‐2832 Office  (817) 236‐2877 

Cell      (817) 925‐5436 

E‐mail [email protected] E‐mail [email protected] 

http://sojodrilling.com http://midcongeo.com 

Page 3: GLADIOLA PROSPECT LEA COUNTY, NEW MEXICOmidcongeo.com/2015_07 South Gladiola Prospect.pdf · gladiola prospect lea county, new mexico gladiola prospect lea county, new mexico lease

SOJOURNER DRILLING CORPORATION

Authority for Expenditure - Office Copy

�:::ription 11-----------�-11 Depth . 12,300

Stage 1 Description

INTANGBLE DRILLING COSTS

7202 DRILLING - DAYWORK

7206 RIG MOBILIZATION

7208 RIG FUELNVATER

DRILLING SUPERVISION

7210 DRILLING PERMIT

7211 DRILL BITS

7212 SURFACE DAMAGES

7214 LOCATION, ROADS, PITS

7216 DRILLING MUD

7220 DRILLING WATER

RENTAL, HOUSING,SEWAGE, etc

7222 WATER LINE/PUMP RENTAL

7226 CEMENT SURFACE CASING

7230 DRILL STEM TESTING

7232 GEOLOGICAL SERVICES

7236 LOGGING Halliburton

7238 MUD LOGGING

7240 EQUIPMENT RENTALS

7241 WELDING/CONTRACT LABOR

7244 DOZER-PULL TRUCK/EQUIPMENT

7246 TRASH TRAILER/PORT A JON RENT AL

7248 ADMINISTRATIVE OVERHEAD

CASING CREW/LAYDOWN

CLOSED LOOP/HAUL OFF

7250 INSURANCE

7252 PLUGGING

7298 CONTINGENCY

Total - INTANGBLE DRILLING COSTS

LEASE & WELL EQUIPMENT

7515 SURFACE CASING

INTERMEDIATE CASING

Property# O Property Desc #1 Kinsolving

County/State Lea Co/New Mexico

Drilling

28 days@ $12500/day 350,000.00

50,000.00

84,000.00

28,000.00 5,000.00

60,000.00

20,000.00

58,500.00

50,000.00

25,000.00

9,000.00

10,000.00

30,000.00

50,000.00

5,000.00

21,000.00

20,000.00

10,000.00

3,000.00

5,000.00

2,000.00

20,000.00

12,750.00

60,000.00

22,000.00

101,025.00 1, 111,275.00

19,300.00

78,200.00

7540 CASING HEAD & FITTINGS

7610 CONTINGENCY

Total - LEASE & WELL EQUIPMENT

TOTAL Drilling

Stage 2 Description 7300 DAYWORK - RUN CASING & CEMENT

7301 COMPLETION UNIT

BITS

7302 REVERSE UNIT RENTAL

7305 EQUIPMENT & TOOL RENTAL

7308 LOGGING AND PERFORATING

7310 CEMENT PRODUCTION CASING

7311 FRESH WATER (KCL)

7316 ACIDIZE

7317 FRAC TREATMENT

7321 DOZER/TRUCKING

7324 SUPERVISION - COMPLETION

7326 RESTORE LOCATION

COMMUNICATIONS

7341 WELDING\CONTRACT LABOR

7348 COMPLETION OVERHEAD

7399 CONTINGENCY

Total - INTANGBLE DRILLING COSTS

LEASE & WELL EQUIPMENT

7510 SAFETY ANCHORS

7525 PRODUCTION CASING

7530 TUBING

INSPECTIONS/CASING CREW

PIPELINE

7542 TUBING HEAD

7550 RODS

7555 BOTTOM HOLE PUMP

7570 PUMPING UNIT

7580 TANK BATTERY

7581 BATTERY SITE/HOOKUP

7582 ELECTRICAL HOOKUP

7585 HEATER/SEPARATOR

7610 CONTINGENCY

Total - LEASE & WELL EQUIPMENT

TOTAL Completion

TOTAL COMPLETED WELL COST

8,900.00

5,320.00

111,720.00

1,222,995.ool

25,000.00

40,000.00

1,500.00

8,000.00

3,000.00

8,000.00

45,000.00

8,000.00

10,000.00

65,000.00

5,000.00

10,000.00

6,500.00

7,000.00

2,500.00

10,000.00

25,450.00

279,950.00

1,200.00

159,900.00

61,800.00

12,250.00

26,000.00

7, 100.00

70,000.00

10,000.00

90,000.00

30,000.00

23,000.00

50,000.00

19,000.00

28,013.00

588,263.00

868,213.00!

2,091,208.00!

Page 4: GLADIOLA PROSPECT LEA COUNTY, NEW MEXICOmidcongeo.com/2015_07 South Gladiola Prospect.pdf · gladiola prospect lea county, new mexico gladiola prospect lea county, new mexico lease
Page 5: GLADIOLA PROSPECT LEA COUNTY, NEW MEXICOmidcongeo.com/2015_07 South Gladiola Prospect.pdf · gladiola prospect lea county, new mexico gladiola prospect lea county, new mexico lease

DATUM: TOP- Atoka/Penn Sand

Page 6: GLADIOLA PROSPECT LEA COUNTY, NEW MEXICOmidcongeo.com/2015_07 South Gladiola Prospect.pdf · gladiola prospect lea county, new mexico gladiola prospect lea county, new mexico lease

Structural Cross-Section D-D'

Page 7: GLADIOLA PROSPECT LEA COUNTY, NEW MEXICOmidcongeo.com/2015_07 South Gladiola Prospect.pdf · gladiola prospect lea county, new mexico gladiola prospect lea county, new mexico lease
Page 8: GLADIOLA PROSPECT LEA COUNTY, NEW MEXICOmidcongeo.com/2015_07 South Gladiola Prospect.pdf · gladiola prospect lea county, new mexico gladiola prospect lea county, new mexico lease

APPROXIMATE WOLFCAMP

MIDCON LINE 1 - 2014 W E PROSPECT ACREAGE

DEVONIAN