| Article Index |
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| Business Strategy |
| Future Objectives |
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Future Objectives:
Pursuant to the Company’s business model, it is our desire to continue to expand our acquisition and development programs at the same high levels of density per acre in the immediate future. The strict criteria that TX has developed for itself regarding the acquisition standards of the leases are as follows:
- The potential leases must have existing wells and large, undeveloped non-depleted shallow reserves.This ensures that they are good candidates which fall under our requirements of being capable of producing oil in the short term once we have completed the necessary workovers or recompletions.
- The potential leases should ideally have approximately 75-80% of undeveloped acreage which will fall into our set guidelines. We will then utilize low-cost, low-risk infield drilling to facilitate the development program.
- All required leases have stacked, multiple shallow zones with an average well depth of 440 feet. These stringent requirements have allowed us to have multiple zones producing oil at once and enable us to do so in a more financially viable way than drilling the more traditional deeper wells.
