This location will find the Austin Chalk at a much shallower depth than in their first well in southern Avoyelles Parish. The Austin Chalk occurs at approximately -12550-800' TVD-SS in the Ironwood 37H-1. The Ironwood location will be lower cost, more oil-prone, and lower pressure than the EOG Eagles Ranch 14H-1. It's very likely that the well will have a much lower water cut than the wells that have historically produced in the downdip region of the play.
Many believed that EOG had exited the play, but courthouse records confirm and define a significant shift updip into West/East Feliciana and Amite County, Mississippi that commenced in early 2018. An additional location is in process in West Feliciana Parish on strike with ConocoPhillips' Hebert #1.
Many in the industry consider EOG to be the best unconventional operator in the world. The Ironwood location is proximal and directly on strike with the ConocoPhillips Irwin #1 that is currently drilling. This sets up a nice "head-to-head" company comparison between the two operators. The Ironwood appears to have a planned lateral length of 5300'.
On a regional basis, the Ironwood location is on trend with the downdip portion of Giddings Field in Texas that has produced over 1.44 billion barrels of oil equivalent. Relative in distance from the Lower Cretaceous Shelf Edge, the Ironwood is in a similar position as the prolific Karnes Trough.
This well will be very closely watched by the industry. EOG continues to be an operational leader in every play that they drill in. The LAMS Stack community couldn't be more pleased with the two operators leading the charge in this region of the play.
Amelia Resources has methodically acquired a geologically-driven lease position in this area for the past 20 months. We're excited to have EOG join the activity in the Felicianas. We currently have approximately 300,000 acres for sale wrapped around this new location. Details can be provided under a Confidentiality Agreement.