Lockhart Oil & Gas' 200k-Acre NM Property Holds Potentially 8 Trillion CFG

AUSTIN, Texas, Feb. 9, 2015 /PRNewswire/ -- Lockhart Oil & Gas announces that a preliminary report of the conventional and unconventional prospective resources has been completed by DeGolyer & MacNaughton, a leading independent consulting firm.

The findings of the evaluation illustrate the trillions of cubic feet of natural gas available on Lockhart's acquisition of 193 thousand mineral acres (net) and 203 thousand mineral acres (gross) in Colfax County New Mexico, and does not include the potentially huge oil reserves within the sands and shales.  

Key Shale Formations:

Below are the estimates of the gross prospective raw natural gas resources.

Adjacent Play Comparisons:
One E&P Company owns ~605,000 net acres in the Western Raton Basin (Vermejo Ranch) which holds 320 Bcf of proved reserves and ~76 MMcfe/d of net production out of the Raton and Vermejo coal beds.  These assets have a shallow production decline rate, low operating expenses and more than 1,000 potential future drilling locations.  This play utilizes the Vermejo and Raton coals, which are also present in the Raton Basin play.

In the Northern Raton Basin, in Colorado, another E&P Company has assets that include ~2,300 wells on approximately ~198,000 acres. This play also has Vermejo and Raton coals present as well as Pierre shale, which in 2008 was identified as shale-gas target. Pierre shale is present in the Raton Basin play at an average mean thickness of 1,850 ft.

ABOUT LOCKHART OIL & GAS:
Lockhart Oil & Gas is a private equity backed firm focused on strategic investments of oil and gas related opportunities spanning production to transportation. Using our global perspective we strive to acquire distressed and undervalued assets where capital allocation and industry specific expertise can have extraordinary results.

Media Contact:
Bonnie Hipchen
(512) 472-1271
[email protected]

SOURCE Lockhart Oil & Gas, LLC; P2 Energy Solutions; DeGolyer and MacNaughton