Palo Pinto & Jack County
Energy Holdings Round out Golden Arch Portfolio
Golden Arch Resources owns percentages of numerous wells located in Palo Pinto and Jack Counties, Texas. The most recent acquisition is a percentage of the Young #2-66 gas well in Hemphill County, Texas.
The well was drilled to a depth of 4,120 metres (13,518 feet) with 3 distinct and separate gas showings. The primary ‘ Granite Wash’ showing has a pay thickness in excess of 91 metres (300 feet) using a 10% porosity cut-off. Other wells with similar thicknesses of pay zone in the Upper Granite Wash formation have produced over 4–billion cubic feet of gas. A new discovery was made in the Lower Granite Wash interval, where three sets pf perforations were fracture stimulated and partially flowed back. Rates of as much as 3,000 (MCFGPD) were recorded during flowback.
The operator on the project, Devon Corporation, flow tested the well after partial flowback of all zones and recorded flow rates of 1,322 (MCFGPD), with an unrecorded but substantial amount of frac fluid still to be recovered.
Golden Arch is continually seeking farm-in opportunities in the oil and gas sector, with a view to bulking up monthly cash flows and, eventually, achieving operational self financing.