tidbits of mississippian shale play from march 2005 and current info on a land drilling contract service provider:
A Mississippian shale play that has been compared to the Barnett Shale play in the Fort Worth Basin is developing on the southern flank of the Palo-Duro Basin. FieldPoint Petroleum recently acquired about 3,235 acres in Floyd County (RRC Dist. 8A) for about $25 per acre. The gas play currently encompasses three counties: Briscoe (RRC Dist. 10), Floyd and Motley (RRC Dist. 8A). The only current drilling is a Vintage Petroleum test in western Motley County. Last summer, Legacy Exploration apparently opened a new Mississippian field nearby, with few details available.
clues are there to do an rrc query....
edited
Providing Contract Land Drilling Services
Our goal is to build a service company with a fleet of 40 new and "like new" land rigs capable of drilling from 10,000 feet to 20,000 feet. We will concentrate our operations in Texas and New Mexico where rig utilization rates and day rates remain higher due to prospect quality and heavy concentrations of natural gas reserves. Natural gas reserves typically are found deeper and generally require bigger and better equipment and more experienced crews to drill the wells. Our competitive strategy emphasizes our ability to build a rig to our customers' specifications, the quality of our equipment, the maintenance of our equipment, the experience of our rig crews and our 75 year history to differentiate us from our competitors.
The Company currently owns seven rotary drilling rigs that are currently being rebuilt to "as new condition," six diesel-mechanical rotary drilling rigs: two National 50As, a Continental EMSCO A-550, a National 55, a National 50CA, a National 100 and one diesel-electric rotary drilling rig, a National 110UE. All seven rigs will be deployed in the Barnett Shale Trend of North Texas, the Permian Basin of West Texas and Eastern New Mexico and the Cotton Valley Trend of East Texas pursuant to term daywork contracts with anticipated day rates of 15,000 dollars to 26,000 dollars per day per rig.
Exploration, development, production, and sale of oil and natural gas. The Company will take a minority participation in some of our customers' prospects as a "time proven" method of building assets and income not dependent on our service contracts.
tharmon, there are many ways to line up capital. one is to farm out the challenger.
