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Houston American Energy Corp (HUSA) RSS Feed

Followers
105
Posters
400
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Posts (Total)
3032
Created
10/16/05
Type
Free
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Houston American Energy Corp [NYSEAmerican:HUSA] is an independent Oil & Gas company focused on the development, exploration, exploitation, acquisition, and production of natural gas and crude oil properties. Principal properties and operations are in the U.S. Permian Basin. Additional properties in the U.S. Gulf Coast region, particularly Texas and Louisiana, and in Colombia, South America. Focus is on early identification of, and opportunistic entrance into, existing and emerging resource plays.

Methodology
From SEC 10-K March 31, 2022
-We focus on early identification of, and opportunistic entrance into, existing and emerging resource plays. We do not operate properties but typically seek to partner with, or invest along-side, larger operators in the development of resources or retain interests, with or without contribution on our part, in prospects identified, packaged and promoted to larger operators. By entering these plays earlier, identifying stranded blocks and partnering with, investing along-side or promoting to, larger operators, we believe we can capture larger resource potential at lower cost and minimize our exposure to drilling risks and costs and ongoing operating costs.


-We, along with our partners, actively manage our resources through opportunistic acquisitions and divestitures where reserves can be identified, developed, monetized and financial resources redeployed with the objective of growing reserves, production and shareholder value.

-We focus on early identification of, and opportunistic entrance into, existing and emerging resource plays. We do not operate properties but typically seek to partner with, or invest along-side, larger operators in the development of resources or retain interests, with or without contribution on our part, in prospects identified, packaged and promoted to larger operators. By entering these plays earlier, identifying stranded blocks and partnering with, investing along-side or promoting to, larger operators, we believe we can capture larger resource potential at lower cost and minimize our exposure to drilling risks and costs and ongoing operating costs.
Partial List of Domestic Operations
Texas USA
-Live Oak County – we hold a 33.3% working interest before the casing point and 25% working interest after the casing point in a 146 acre lease block. A 3,500 foot test of the Hockley and Pettus formation was drilled in 2014. At December 31, 2014, the well was awaiting hook up. Production of the well commenced in January 2015.
-Yoakum County – We hold a 12.5% working interest in a prospect covering approximately 650 gross acres (81.25 net mineral acres) in Yoakum County, Texas.
-Reeves County –  The Company’s first two Reeves County, TX wells, the Johnson #1H (25% WI) and O’Brien #3H (11.1885% WI), both commenced commercial sales in November 2017. The wells were both completed in the Wolfcamp A formation with an approximate 4,500 foot lateral leg.

Louisiana USA
-East Baton Rouge Parish – we hold (i) a 4.557% royalty interest in 2,485 royalty acres, as well as a 3.547% royalty interest in the Crown Paper #01 well, and (ii) a 5% working interest in a 1,300+ net acre lease block on which a 11,000 foot test of the BolMex and Nonioin Struma 1, 2, 3, 4 and 5 sands was drilled and completed in 2014.
  -Vermilion Parish – we hold a 1.5% working interest in a 450+ net acre lease block on which a 15,000 foot test of the Discorbis 1, 2, 3, 4 and 5 sands was drilled and on production during 2014.
-Jefferson Davis Parish – we hold (i) a 10.9% working interest before payout and a 9.375% working interest after payout in a 7,000 foot well drilled, and brought on production, in 2014 testing the Cris H stringer and Cris H sand, and (ii) a 3.375% working interest after the casing point in the initial and subsequent wells on a 289 acre lease block in Jefferson Davis and LaFourche Parishes.

https://houstonamerican.com
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