Barnett Shale - texas

Newark East Barnett Shale gas field is the largest producing natural gas field in the State of Texas.

Exterra Energy Inc. Profile

Exterra Energy Inc. Houston, Texas, OTCBB : EENR is an emerging oil and gas exploration and production company based in Houston, Texas.

Exterra is primarily active in the Barnett Shale gas field in Texas and now holds an undivided interest in approximately 17,500 gross acres of leases in the Newark East (Barnett Shale) area with over fifty wells producing on the acreage.

The Company is also active in West Texas with twelve 10-acre oil and gas well sites in Pecos County.

The management team has successfully exploited oil and gas opportunities in the Newark East Barnett Shale gas field of North Texas for the past six years.

The Newark East Barnett Shale gas field is the largest producing natural gas field in the State of Texas.

The Barnett Shale is a geological formation consisting of sedimentary rocks of the Mississippian age in the state of Texas. The formation is estimated to cover 5,000 square miles in at least 17 counties in Texas. Some experts have suggested the Barnett Shale may be the largest onshore natural gas field in the United States. It is widely estimated to contain as much as 30 trillion cubic feet of natural gas.

Barnett Shale Interests

Exterra owns working interests in over fifty (50) producing wells in the Barnett Shale with over 9 MMCF of gas production per day and some condensate. Exterra also has the right to acquire working interests in seven (7) Barnett Shale Wells that are drilled, cased and ready to be frac stimulated, as well as two (2) Barnett Shale wells that are ready to be drilled.

In addition, Exterra owns a working interest carried through first sales in approximately 3,979 acres of proven undeveloped leases (PUDS) in Parker and Hood Counties, Texas.
Currently, six (6) Barnett Shale Wells on the leases have been placed into production and are producing significantly. The remainder of the lease will be the subject of a continuous drilling program conducted and operated by Carrizo Oil & Gas, Inc. (Nasdaq "CRZO") and Sauder Management. This acreage could support numerous additional wells.

Exterra owns a 5% interest in an 80 mile, eight inch intrastate natural gas pipeline traversing portions of Bosque, Hamilton, Erath and McLennan Counties, Texas and operated by Panther Pipeline Company; the pipeline is approved and awaiting production for transportation.

The Company also acquired Overriding Royalty Interests in three (3) Barnett Shale Wells in various stages of completion, as well as a commercial salt water disposal well situated in Wise County, Texas.

Finally, Exterra owns an 11.9% working interest in 7,229 acres of undeveloped Barnett Shale mineral leases in Bosque County, Texas. This property is highly prospective and strategically located.

Last changed at 10-Feb-2009 04:43AM by Highgrader