Texas Energy Exploration LLC - Acquisition
The Brookshire Dome is located within the Gulf Coast geological province, which extends 700 miles from the Rio Grande to Florida. Approximately 450 miles of the trend is within Texas. This is one of the most prolific oil and gas producing provinces in the world.
Texas Energy Exploration, LLC is a privately owned company that holds oil and gas leases in some of the most desirable locations on the Brookshire Dome, Waller County, Texas.
The leases are in between and directly off setting producing oil and gas wells and known proven reserves. Several successful wells have been drilled on the Texas leases. The drilling success rate in the Brookshire Field over the last several years has shown that 8 out of 10 wells drilled have found reserves of oil and gas above 3,000 ft. The Texas Railroad Commission has set the daily allowable rate of production per well at 300 barrels of oil per day.
Reserves of the Brookshire Dome Miocene gas sand have produced up to 1 BCF of gas at 1,700 ft.(Mosbacher Well). At the current market price of $4.50/mcf for gas, the value of each well would be $4.5 mm.
The Brookshire Dome Field is located in Austin and Waller Counties, Texas, 35 miles west of Houston on and surrounding the I-10 Freeway. The Brookshire salt Dome is one of the largest salt domes located within the gulf coast region of Texas. The cap rock of the Brookshire Salt Dome is 3.5 miles by 4 miles and covers approximately 5,000 acres.
The acreage controlled by Texas Energy Exploration, LLC and the current production locations are south of IH-10 in the southeast and northeast quadrants which are the most productive area’s of the Dome. The terrain is flat to very gently rolling except where bisected by the Brazos River, and Bessie’s Creek. The lands are devoted principally to light agriculture and horse farms.