Maverick Basin Cross Section

TXCO's core, Maverick Basin lease block of nearly 684,000 net acres (1.1 million gross acres) is situated along the Chittim Anticline in Southwest Texas, a large regional structure that has produced hydrocarbons from multiple horizons dating back more than 75 years.

The company's current Maverick Basin activity focuses on:

• 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 some 5 million barrels of light, low-sulfur crude oil since. It offers hundreds of potential drilling locations.
• The Pearsall shale gas play – The Pearsall has produced gas for many years but had a reputation as a hit-or-miss target. TXCO and its partners are utilizing horizontal drilling and advanced completion techniques as they seek to make the Pearsall into a predictable resource play across virtually all of the basin. TXCO is exposed to more than one thousand 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 has pilots plans under way as it seeks to realize the San Miguel's potential through the use of new recovery techniques, coupled with more attractive world crude oil pricing.

top