Louisiana is the 5th largest producer of crude oil and the 4th largest producer of natural gas in the United Sates. South Louisiana is particularly oil prone, having produced over 12 BB barrels of oil* since 1945.
Since late 2009, Ridge’s Eocene ventures have caused the leasing/optioning of almost 115K acres over three South Louisiana Parishes. Almost $130MM has been allocated for land, seismic, and drilling to further the exploration efforts in these areas.
Ridge Resources, LLC is also presently generating exploration and development opportunities in the liquids-rich Eocene and shallow Miocene trends of South Louisiana.
In effort to broaden our horizons, Ridge is in the beginning stages of exploring liquids-rich opportunities in the prolific Four Corners area.
Ridge is actively seeking industry partners for a variety of well documented exploration ventures.
Bear Head Creek Divestiture
Location: Beauregard Parish, Louisiana 6S-11/12W
4 Producing wells – 71 BOPD gross – net~$60k/Mo
All Infrastructure including SWD well
2 – 3D driven low risk Cockfield channel locations, 13 upper/middle Wilcox locations
Bear Head Creek is being liquidated by the current operator Exodus Energy. The active wells are currently producing from the Cockfield (3 wells) and Wilcox (1 well) Formations.
The Cockfield prospect(s) are shallow, low risk tests targeting (1)multiple attic oil sands on a downthrown 4-way, and (2)an upthrown attic oil channel/strat play. The Bear Head Creek Sand (primary target), is a NE-SW trending shallow marine Cockfield channel sand which exhibits excellent petrophysical properties and analog production (averages over 200MBO/well). The last well drilled on the structure (Tribal Lutcher-Moore #1) experienced mechanical failure in Feb 2000, and strong evidence indicates this well did not effectively drain the reservoir.
Ridge Resources is partnered with Exodus Energy, who took over the key Tribal well in January 2000. Exodus operates out of nearby DeRidder, LA. and has intimate familiarity with the operational history of the field. Engineering and geological diagnosis via Ridge and Exodus corroborates that our proposed location (prospect 1) is essentially twinning a well with left behind reserves.
Ridge Resources and Exodus Energy jointly leased 200 acres to control the play – Contact us for specific terms.
St. Landry Parish, Louisiana
Objectives: Sparta, Upper/Lower Wilcox
5 fault blocks to test
P-50 reserves 9 MMBOE
10-12 development locations
11 oil objectives above pipe point
320MBO/1.2 BCF: Wilcox avg along trend
Future upside via Sparta and Wilcox horizontals
Prospect is a 2500 acre Lower Wilcox structure which has never been tested on the apex. The structurally highest well tested several Lower Wilcox sands in 1976, but due to inadequate porosities the operator could not establish commercial rates using conventional completion methods; the well was subsequently plugged. Detailed petrophysical analysis was performed on this well, and 8 down dip sands calculate as hydrocarbon bearing. Over the past several years, it has been proven (along trend) that fracture stimulation is required to effectively drain these low porosity Wilcox reservoirs.
Analog production nearby suggests drainage radiuses of 160 acres per well in the Lower Wilcox. At this spacing, there is potential for 10-12 Lower Wilcox locations, with EUR’s ranging from 300-350MBOE/well. In addition, several locations include attractive Sparta and Upper Wilcox targets from the same wellbore.
Ridge Resources has worked and/or QC’d a dozen 2D seismic lines in the immediate vicinity of the project area. Upon initial drilling success, 3D imaging this area would be encouraged prior to full field development.
The proposed location is an easily accessible, normally pressured, straight hole 14,000’ test. The ~$3.0MM dry hole AFE includes drilling with oil base mud, which is recommended in the area.
Open acreage – Contact us for details
Ridge Resources and Century Exploration Houston joined forces to market a large South Louisiana Wilcox drilling portfolio to Halcón Resources. Nine different project areas covering 20K acres were divested, representing an NPV of almost $300MM. A ~175 square mile 3D for predominately Eocene formations was also part of the divestiture.
In late 2013, Halcón Resources decided to convert 100% of their portfolio to resources plays, therefore; they elected to monetize their onshore Tertiary trend. With the assistance of Ridge Resources, Will-Drill Resources recently acquired these properties and have successfully completed 2 Wilcox wells.
CYPRESS CREEK 3D
In early 2010, Ridge optioned ~40,000 Olympia Mineral acreage for the purpose of shooting a 130 square 3D survey to evaluate Frio, Cockfield, and Wilcox targets. EP Energy (formally El Paso Corporation) purchased the project and eventually shot 150 squares.
Pre-3D reserve estimates for the Cypress Creek area were 10-15 MMBOE. The primary objectives included Middle/Lower Wilcox and secondary objectives consist of Upper Wilcox and Cockfield. Depending on the 3D results, over 50 locations are prospective with estimated EUR’s averaging 250-300 MBOE/well.
Ridge anticipates royalty divestment opportunities during EP Energy’s drilling phase. Ridge will be interested in soliciting potential industry partners.
-*Louisiana Department of Natural Resources website