Horizon Energy Corporation announced in early April that it signed an option agreement for an oil and gas lease in Webb County, TX. The land consists of 1,340 acres located close to Mirando City.
Webb County is in the dry gas window of the Eagle Ford Shale, and also produces oil and gas from the Lobo and Wilcox formations. Horizon, formerly Solar America Corp., did not divulge any of the agreement's terms.
SM Energy and Lewis Energy are the largest operators with production focused in the Eagle Ford shale in Webb County. Other top operators with active leases in the area include Chevron, ConocoPhillips and Swift Energy.
In March of 2014, Swift Energy tested three Eagle Ford wells in the Fasken area of Webb County, with average initial production (IP) rates of 22.1 mmcf/d. The Company has identified an additional 50-60 undeveloped lower Eagle Ford locations in the Fasken area.
Click Here to read the Horizon press release