Midland Basin Project, Schleicher County, Texas
Big Sky Petroleum vertically drilled the Schafer #1 well to 7,370 feet in the second quarter to test for the Wolfcamp formation. The well was completed with multi-stage fracture treatments to assess the multiple hydrocarbon zones that were encountered in the wellbore. The Wolfcamp "A" section was identified from 4,140 to 4,540 feet. The Wolfcamp "B" section was identified from 4,540 to 6,340 feet. The well produced over 500 barrels (bbls) of oil and flowed gas that was tested at 1,185 British thermal units during the testing period. The well was successful in confirming the presence of the Wolfcamp formation on Big Sky Petroleum's leashold. The well encountered a mechanical failure that caused an influx of water into the wellbore. While the well served its purpose in proving the presence of the Wolfcamp formation and proved that the Wolfcamp wells are horizontal completions, it was determined that it would not be prudent to invest more money into this well and an IP was not estimated.
2013 & 2014 Plans
Big Sky is currently in discussions with certain companies about entering into a joint venture development program to finance further wells for the 3,000 acre Wolfcamp prospect. Activity in the surrounding areas continues at a brisk pace as more horizontal Wolfcamp wells are being drilled. Big Sky currently has spacing for 80 horizontal well completions based on two laterals per well location.
Big Sky Petroleum Corp. engages in the exploration and development of oil and gas properties with U.S. operations in Texas and Montana. The company is based in Vancouver, B.C.