The well is situated on acreage acquired by Range Texas Production, a subsidiary of Range Resources.
ZaZa Energy president and chief executive officer Todd A Brooks said the Eaglebine resource play’s organic rich geologic horizon is thicker and has a higher sand concentration than in the Eagle Ford core, and it offers higher resource potential per acre at lower drilling costs.
"Judging by the recent success of other operators in the area, we are very optimistic about our prospects in this resource play, and look forward to advancing our drilling program while simultaneously running our strategic review process to identify a joint venture partner," Brooks added.
ZaZa, under a transaction with Range, obtained 75% working interest in the acreage, is operating the acreage, and has started the drilling as per the agreed terms.
