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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL
CWEI 131.900.0%Apr 25 5:00 PM EST
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To: Buzz Mills who wrote (659)5/7/1997 10:37:00 AM
From: Buzz Mills   of 1017
 
Georgetown formation well profile:

I had Emailed Lajuanda Holder for info on the Georgetown well CWEI is now drilling; following is a copy of that Email and the reponse:

Hi Lajuanda,

The first well that is being drilled in the Georgetown formation per the farm-in agreement--is that well being drilled using existing 2-D data or has 3-D been done on that area? What is the typical profile of an average Georgetown formation well, as far as oil and gas flow rates--are the wells typically oil only, gas only, or a mix? In Paul Feretti's writeup he stated: "Well costs in the area are estimated to be $1-$1.1 million with gross reserves of 150,000-200,000 boe." I would assume from the costs of the well that they are essentially being drilled to just about the same depths as the Austin Chalk--maybe just a little deeper.

Thanks,
Buzz

Hi!

No 3-D seismic data is being used regarding the first well drilling in the farm-in. In this area, we expect the Georgetown formation to produce primarily oil and little to no gas. Wells in the Georgetown are expected to produce two-thirds of its reserves in the first two years--produces faster than Chalk wells Feretti's estimates are correct as is your assumption regarding depth of this well.
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