Texas: Offshore & Gulf Coast
LOCATION
Jefferson County, Calhoun County, Chambers County, Nueces County and San Patricio County. Texas offshore state waters and Federal offshore waters
OPERATOR(S)
Meridian Resource Corporation and other large independents
AVERAGE INTERESTS
Working Interest: 25% to 60%
Net Revenue Interest: Varies depending on stage of development
GEOLOGY
Frio and Vicksburg
LAND
Gross Acres: ±22,000 acres
HISTORY
Properties purchased in June 2006 from Vintage Petroleum, LLC (a wholly owned subsidiary of Occidental Petroleum Corporation) for $21 million in cash and stock.
Eight different properties were purchased including: High Island 55 in Jefferson County; Panther Reef in Calhoun County, Umbrella Point in Chambers County, Indian Point in Nueces and San Patricio Counties. Other properties are located in the Texas offshore including, Mustang Island 860 and 771, Trinity Bay ST 25 and Brazos 388/400. Properties in Federal waters include Matagorda Island 639/640 and High Island 65.
Additionally, the package included 3-D seismic surveys on two of the properties acquired covering 75 square miles, and the Company has separate license agreements on two others.
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