Eagleford Energy, an oil and gas company, has started drilling of its initial well, the Murphy/Dyami 1-H, on its 100% working interest Murphy Lease in Zavala County, Texas.
The company intends to drill through the Eagle Ford shale to the Buda formation and log the Serpentine, Austin Chalk, Eagle Ford shale, and the Buda formations.
The well is subject to a 10% carried interest on the drilling costs incurred from the surface to the base of the Austin Chalk formation, and a 3% carried interest on the drilling costs incurred from the top of the Eagle Ford shale formation and below.
Eagleford Energy’s Murphy Lease, which comprises 2,637 acres of land, is part of the Maverick Basin of Southwest Texas.