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Bering Exploration Signs Agreement to Co-Develop a Prospect near Eagle Ford Shale Play

By Joel ScanlonMay 26 2011

Bering Exploration has signed an agreement with a local company to develop a property, which embraces more than 1,000 acres near its present 1,200 acre Eagle Ford prospect.

Bering and its associate company will spend each 50% of the expansion cost for this Eagle Ford property. There are 50 new well sites apart from the currently existing 50 well bores, which can be rehabilitated and made functional again. Primarily, the company will target Austin Chalk and the Eagle Ford structures.

Recently, Bering has commenced the drilling operations at its Gulf Coast property having potential profits valued at $29 million above the prospect’s life. Moreover, Bering will firstly drill four test wells at its Eagle Ford shale play in Central Texas that targets $11 million in gross possible reserve. The company will employ the results to support the plan and development of deep drilling program for the enduring 116 potential well sites and targets over $300 million of gross potential reserves.

Bering will expand its drilling operations at a lower cost per barrel finding cost by this recent developmental contract.

Source:

http://www.beringexplore.com/

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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APA
Scanlon, Joel. (2019, February 18). Bering Exploration Signs Agreement to Co-Develop a Prospect near Eagle Ford Shale Play. AZoMining. Retrieved on November 22, 2024 from https://www.azomining.com/News.aspx?newsID=4124.
MLA
Scanlon, Joel. "Bering Exploration Signs Agreement to Co-Develop a Prospect near Eagle Ford Shale Play". AZoMining. 22 November 2024. <https://www.azomining.com/News.aspx?newsID=4124>.
Chicago
Scanlon, Joel. "Bering Exploration Signs Agreement to Co-Develop a Prospect near Eagle Ford Shale Play". AZoMining. https://www.azomining.com/News.aspx?newsID=4124. (accessed November 22, 2024).
Harvard
Scanlon, Joel. 2019. Bering Exploration Signs Agreement to Co-Develop a Prospect near Eagle Ford Shale Play. AZoMining, viewed 22 November 2024, https://www.azomining.com/News.aspx?newsID=4124.