The company said it leased the property and commissioned Geologic, a geological engineering firm, to evaluate the acreage and its potential.
According to the report by Geologic, the Apache leases have the primary producing reservoir of the Minerva-Rockdale field in the Navarro ‘A’ Sand.
The ultimate recoverable reserves of the leases acquired could be as high as over 1,200,000 barrels of oil.
Apache Energy president Charles Burris said the company continues to be able to successfully identify properties while applying its expertise to generate prospects that are appealing to public companies and private companies alike.
