Nostra Terra Oil and Gas has signed a deal with Houston-based New Century Exploration to acquire a 1% APO working interest in the Vintage Hills prospect unit in Brazos County, Texas, within the Giddings field.
Development of the prospect will initially target the prolific Austin Chalk, which earlier drilling on the unit has shown to be divided into four separate horizontal reservoirs, with no vertical communication.
The only vertical well drilled on the prospect, Agnello #1, produced modest amounts of oil and gas but proved all four of the Austin Chalk zones to be oil-bearing.
The Agnello #2 well was drilled horizontally and produced over 190,000 barrels of oil and 1.2 billion cubic feet of gas from one of the zones, known as Middle B.
A horizontal well (10,400ft vertical depth with a 4,000ft lateral section) will be drilled into the Upper B reservoir later this month, followed later by the Lower B and A zones.
In addition to the four Austin Chalk reservoirs, the Agnello #1 well on the Vintage Hills unit also logged promising pay zones in the deeper Eagle Ford Shale (60ft oil column), Buda (120ft gas) and Georgetown (130ft gas) formations, all of which will be held by production for potential future development.