The Gates Ranch lease in northern Webb County is one we have been watching with interest here at DI-ESP. The reason being is that this lease and the other Rosetta producers are important data points in defining the dry gas vs the wet gas windows in this area of the Maverick Basin. Rosetta Resources had a very informative 3Q 2010 earnings call in which they dove into some interesting details regarding the Gates Ranch and their other leases.
First of all, they provided a graphic detailing how they have finished delineating the Gates Ranch and will now move forward with infill drilling. Secondly, and very interestingly, they have finally raised their Gates Ranch type curve from 4 Bcfe to 7.2 Bcfe. It is nice too see that they waited for all the data to come in before announcing this increase. Below are the Rosetta Resources producing Eagle Ford wells. The bubbling by maximum monthly liquids shows the Gates Ranch is in the condensate window; they have GORs based on cumulative production ranging from about 10-30 Mcf/bbl.
Below is a graphic I put together showing the Rosetta Eagle Ford wells. They delineated some of the dry gas acreage with the two wells to the right, underwent a full delineation of the Gates Ranch, and then recently permitted to the North in Dimmit County in the Light Ranch.
The company said they initially believed the Light Ranch in Dimmit County was in the condensate window, but when they ran their well tests they discovered it is in fact in the oil window, with 41 degree oil.
I did a little extra research in Drillinginfo to seek out the lease information of the Light Ranch, and I show it below. By clicking on the DI Landtrac polygon, I was able to see that the ranch is a 3,900 gross acre lease that expires in September 2012. Thats a significant position that can hold quite a few wells when Rosetta gets it developed.
Some other tidbits from the call are they use a b-factor of about 1.2 give or take, they believe they can space these wells at 80-180 acre spacing, the gas at Gates Ranch is 1350 BTU, and they have shored up and are in the process of shoring up more takeaway capacity. They believe the Gates Ranch can support about 265 horizontal wells.
Continue visiting this EF blog as we discuss all sorts of topics, and all DI users should visit the DNA Eagle Ford Unconventional Update.
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