OIL: CSE
$0.13
OILCF: OTCQB
$0.09
75P: FRA
$0.09

Breedlove “B” Clearfork Properties

  • Details
  • Geology

The Breedlove Field is located in northwest Martin County, Texas. Martin County is bounded on the north by Dawson County, on the east by Howard County, on the south by Glasscock and Midland Counties, and on the west by Andrews County. Martin County covers 916 square miles and is approximately 30 miles north of Midland. It is in the core of the Permian Basin. There is a total of 25 vertical wells of which 12 are producers, 4 are saltwater disposal wells (“SWD”) and 9 that are shut-in opportunities.

The field was discovered in July 1951 by Pan American Production Company. The first well, on the acreage, was drilled in 1985 and cumulative production from the Clearfork B zone is over 1,200 MBO. There are currently twelve producers, five shut-in wells and four saltwater disposal wells.

Permex plans to begin development of the acreage starting in the first quarter of 2022. There are 18 undeveloped locations on 40 acre spacing and 29 locations on 20 acre spacing in the Clearfork B interval. Operational projects to increases production by adding field compression and implementing a chemical program to control paraffin buildup are planned. Also, Permex plans to exploit the potential in the San Andres and Spraberry zones.

The Permex acreage in the Breedlove Field includes 1,558 HBP acres in five properties and approximately 6,000 non-producing acres. The properties encompass over 12 contiguous sections and are productive in the Clearfork formation at a depth of approximately 7,200 feet. The productive Clearfork B intervals include the Upper, Middle, and Lower zones within the leases. The main trapping mechanism is stratiographic.

Subscribe to our mailing list to keep up to date on latest news