Located in the Caldwell County of Texas, in an uplift of the Austin Chalk geology, the drilling location is between the Pearsall and Giddings fields.
These two fields have been producing oil and gas since the late 1960s and have provided a significant amount of data concerning the production history of the area, Signature said.
Nutech Energy Alliance, a provider of petrophysical, geological and engineering solutions, has analyzed this data to determine the proper location for the wells, and the proposed wells are estimated to each contain approximately 320,000 barrels of oil.
Signature is an independent energy company engaged in the exploration, development, exploitation and acquisition of on-shore oil and natural gas properties in conventional producing areas along the gulf coast of Texas.
