Carrizo Oil & Gas will test a Pearsall Shale well in late 2012. The Eagle Ford Shale is the company’s primary focus in Frio, La Salle, McMullen, and Atascosa counties, but the Pearsall could add additional resource to the company’s portfolio. The first test will spud in late November 2012 in Frio County. Just a couple of weeks ago, Cabot Reported Pearsall Shale Well Results that looked promising. Carrizo is following suit.
Carizzo also added 2,000 acres in La Salle County during the third quarter of 2012. The company now has more than 48,000 net acres prospective for the Eagle Ford. That acreage is predominately located in La Salle County, but stretches across three neighboring counties as well. The Pearsall is prospective on 30,000+ acres of the company’s position, but it will take several exploration wells before the company knows where the play has liquids potential. Dry gas wells aren’t going to be the target if natural gas prices stay low. [Read more…]