Austin Exploration will spud an Eagle Ford Shale well in Burleson County, TX during the week of October 25, 2011. The company has assembled a 5,000 acre position in the county at a cost of $400 per acre.
The company plans three vertical wells and then a thorough evaluation of reservoir properties. Austin Exploration expects to intersect a 300 ft section of the shale in this area. The Eagle Ford is the primary target at 8,700 ft and the Austin Chalk is the secondary target at 8,300 ft. The Taylor Sands, Buda Lime, and Georgetown Lime are also potential hydrocarbon bearing zones. [Read more…]