Exploration Activity

Carr Resources, Inc. began its transition to play sized exploration projects in 2008. The first of these new plays was the horizontal Woodbine Sand in the OSR Field area in Leon County. This play was sold to PetroMax in 2010 and then after seven wells were drilled it was sold to Halcon Resources in 2012. Carr Resources, Inc. developed another leadership role in predicting the play for the northern Eagleford Shale Play in Brazos and Burleson Counties. Its concepts started PetroMax in that area and after leasing 14,000 acres it sold a majority interest in the acreage to Halcon. Carr leased 10,000 acres and brought PetroEdge II into the play to increase the position to a 25,000-acre lease block and drill the first well. The Carr/PetroEdge position was sold to Apache in October of 2014. Halcon, Apache, Wildhorse and others have now drilled vast areas of Brazos, Burleson, and Lee Counties in the development of this shale play. Carr Resources, Inc. has also written papers describing the play revealing that the Lower Woodbine Organic Shale is the actual producer, not the Eagleford Shale.

Over the last decade Carr Resources, Inc. has assembled a key lease block in what is now developing into the new hot play for the Deep Austin Chalk in Washington, Colorado, Fayette and Austin Counties, Texas. This 3,500-acre block in NW Austin County is positioned over a basement high in the area where the new porous Austin Chalk Play merges with the older Fractured Deep Austin Chalk play providing an opportunity for superior production. Nearby analogous production with sustained rates of 20-60 MMCFGPD are the norm. Active operators leading the play in this area include EOG, GeoSouthern, Enervest and Blackbrush. Other pay intervals on the prospect were already confirmed by a deep test of the structure to the lower Glen Rose Fm. The initial test well has been drilled resulting in a new deep Austin Chalk gas discovery. Recent articles describe this new Porous Austin Chalk play as one of the most significant new plays in the lower 48.

www.austinchalkoilgas.com

www.tuscaloosatrend.blogspot.com 

Recent Plays

In 2019 Carr Resources, Inc. secured a 5,500 acre position in a new field discovery in Scurry County, Texas. Since that time Carr has added 2,000 acres to its position in this Strawn “A” Carbonate bank field within the greater Garden City, S. (Wolfcamp) Field. Carr has ten productive wells that have produced over 1,500,000 barrels of oil.

Carr Resources, Inc. has a non-op position in 18 sections of the Woodford play in Stephens, Marshall and Carter Counties of Oklahoma. The operators are Continental Resources and XTO. Over the past five years Carr has been involved in over 38 horizontal Woodford wells with no dry holes.

In East Texas Carr has acquired a non-operated interest in a significant new oil play in Cass County in the Haynesville Limestone. The operator is Barrow-Shaver Resources, which is developing the 51,000 acreage block by drilling both vertical and horizontal wells to develop its oil discovery.

New Plays

Using the corporate vision of “Discovery consists of seeing what everyone else has seen and thinking what no one else has thought,” (Albert Szent-Gyorgi) Carr has several other projects in the making using the latest geophysical and geological methods to develop new plays in old areas in a leadership role. The projects include both new regional plays as well as existing fields with previously unrecognized remaining potential.

The most recent of these new plays is the acquisition of a 8,800 acre lease block in early 2022 in eastern Fisher County in the new trend of Strawn reservoirs on the Eastern Shelf being developed with long horizontals and multiple frac treatments. This Strawn play is developed by Peregrine, Cholla, Browning-Clearfork. Carr joined in a 11,000 acre Joint Development Area with Cholla to develop its acreage position. The first well drilled with Cholla as the operator has begun production in January of 2023 and has shown excellent flow rates of oil and gas up to a sustained rate of over 800 BOPD.  This well was offset twice and both wells produced over 800 BOPD.  Two more offset wells were drilled and are now being completed which we expect to produce as the first three have done.   There are seventeen more locations in the JDA left to drill. Carr also retained an additional 2500 acres which has been joined in part with Browning-Clearfork to drill one well.  The balance of the additional acreage is being sold to drill currently in combination with acreage contributed by Sojourner Drilling in a total 5,100 acre position.