Liberty Energy has planned to drill a new well on the Alexander A Lease, Lockhart, Texas.
The company, after considering multiple options, has planned to further develop the asset by drilling a new test well that will specifically target the Edwards shale play.
Works carried out on the primary three wells in addition to further testing and discussions with various consultants has improved the company’s understanding of the lease and its potential.
The Edwards limestone formation underlies the Eagle Ford Shale and Austin Chalk formations, which the company is currently producing from.
The Edwards is considered by geologists to be the original source of hydrocarbons that are now found in the Eagle Ford Shale and Austin Chalk above it.
Liberty Energy CEO Ian Spowart said that the geological reports based on geological, offset and historical data suggest that each vertical well drilled could produce 40,000bbls to 50,000bbls, and each horizontal well 250,000bbls to 300,000bbls.