Mainland Resources, a public oil and gas company, has extended its oil and gas leases for its Buena Vista Haynesville Shale Operating Area in Jefferson County, Mississippi, US up to 2012 and 2013.
With more than 95% of the acreage set to expire in 2011, the firm has successfully extended the lease to 2012, providing it select primary term leasehold acreage expiring in 2012 and 2013.
Mainland CEO Nick Atencio said the retention of key acreage positions is part o thheir business plans in the Buena Vista Haynesville Shale operating area. enables the company to expand the play and maximize shareholder value.
"As we move our program into the analysis and testing phases, the retention of key acreage positions assures our ability to expand the play and to maximize shareholder value," Atencio said.
Earlier, the company’s Burkley-Phillips #1 well was drilled and logged, and production casing was set at a depth of 22,000 ft within this acreage holding.
Currently, the firm is conducting an analysis of Haynesville Shale and other prospective intervals using logs and a full core taken from the well.