Maverick Basin Cross Section

TXCO's core, Maverick Basin lease block covers nearly 630,000 net acres (977,700 gross acres) along the Chittim Anticline in Southwest Texas, a large regional structure that has produced crude oil and natural gas from multiple horizons dating back more than 75 years.

The company's current Maverick Basin activity focuses on:

• The Eagle Ford shale play – A comparatively shallow formation, the Eagle Ford is an emerging resource play that covers most of the Maverick Basin and extends eastward across South Texas. TXCO and its partners employ horizontal drilling and advanced completion techniques as they work to develop the horizon's potential. TXCO is exposed to more than one thousand Eagle Ford drilling locations.
• The Pearsall shale gas play – The Pearsall has produced natural gas for many years but had a reputation as a hit-or-miss target. TXCO and its partners are using advanced seismic imaging and drilling techniques designed to make the Pearsall into a predictable resource play across virtually all of the Maverick Basin. TXCO is exposed to more than one thousand Pearsall drilling locations.
• The Glen Rose formation – This carbonate rock has produced billions of cubic feet of natural gas from reefs and shoals. In early 2002, TXCO discovered the Glen Rose Porosity oil play across the southern portion of its acreage. This unusual, highly porous, water-drive feature has produced more than 6 million barrels of light, low-sulfur crude oil to date from more than 100 wells. It still offers hundreds of additional drilling locations.
• The San Miguel oil sands – An independent study confirms the San Miguel has 7-10 billion barrels of 0 degree API gravity tar/bitumen in place and perhaps another 100 million barrels of 10-14 degree API gravity heavy oil in separate traps. TXCO's pilot plants successfully recovered San Miguel tar before their suspension at the end of 2008 due to low crude oil prices.

top