Kite Energy, LLC is a company that acquires oil and gas properties and is continuing to place itself in conventional plays in the United States. The primary focus area is in the ultra-deep Yegua, Cook Mountain, Wilcox, and the Woodbine formations in the Houston Embayment of Texas. Several major independents have mapped this area and have found it to have high potential for ultra-deep natural gas reserves.
“Chevron has begun promoting the Shallow Water Gulf of Mexicio (SWGM) as one of its top three areas of geologic interests worldwide. Keep in mind Chevron is a major firm from the U.S. to Australia, across Africa, central Asia and South America. If SWGM is in the top three, the prospects must be huge.”
“Chevron is also very well positioned. Chevron started a well late last year onshore in Cameron Parish, LA called Lineham Creek with a proposed total depth of 29,000 feet targeting the Eocene and Paleocene objectives below the salt structure.”
“McMoRan said in a statement that they’ve(Chevron) found proved, probable and possible reserves equivalent to 547 billion cubic feet of natural gas, with 12.9 bcf of that falling into the proved category.”
These ultra-deep plays are a new frontier in the oil and gas industry that will require 30,000 foot drilling rigs on land. We expect that Angleton, Texas will be the hub on the Texas side of these ultra-deep natural gas plays.
- Multiple identified play targets
- Improved onshore drilling economics
- Potential LNG export opportunity