Mesa Energy Holdings Inc., Dallas, has leased 1,525 net acres in Garfield and Major counties, Okla., bringing its total position to 3,245 net acres in the Mississippi lime play.
The new leases have a 3-year primary term plus option periods. Mesa also closed on a farmout with Twenty/Twenty Oil & Gas Inc. covering 1,720 net acres held by production. The Twenty/Twenty transaction also includes the outright purchase of three vertical Mississippi lime wells that will be operated by Mesa Midcontinent LLC, Mesa’s Oklahoma operating subsidiary.
Mesa is to start a horizontal drilling program in the Mississippi lime in late 2012 or early 2013. Objectives are the Mississippi lime that is as thick as 500 ft at 7,000 ft and potentially the underlying Woodford shale 50-80 ft thick. Estimated ultimate recoveries from the Mississippi lime are 300,000-500,000 bbl/well.
Mesa continues to lease and to pursue agreements with operators to acquire HBP acreage.