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Operations
Activity
Below is a summary of the activity through which we have consistently created value for our investors beginning when Tanos Exploration, LLC was established in 2007. Check back for updates as our success story continues to unfold.
2016
- Continue seeking quality acquisitions and "drill-to-earn" partnerships
- Continue drilling and completion operations in Overton Field with a combination of one and two rig program
- Acquired 700 wells and 129,000 net acres in East Texas and North Louisiana. Both operated and non-operated interests with net production of 72 MMCFE/Day
2015
- Acquired 78 wells and 7,200 net acres in Rusk County, Texas - 58-100% W.I. at a net rate of 3.9 MMCFE/Day
- Executed "drill-to-earn joint venture with industry partner covering more than 6,000 acres at Willow Springs Field, Gregg County, Texas to develop Cotton Valley Sands using horizontal technology
- To date, 18 wells have been drilled and completed resulting in an average test rate of 7,800 MMCFE/Day
- Continue drilling and completion operations in Overton Field utilizing a two rig drilling program
- Extended "drill-to-earn" joint agreement with industry partner through a bolt-on acquisition, encompassing 4,600 gross acres
- Aggressively pursuing acquisitions and "drill-to-earn" partnerships that fit within the Tanos II strategy profile
2014
- Executed "drill-to-earn" joint venture with industry partner covering more than 6,600 aces at Overton Field, Smith County, Texas to develop Cotton Valley Sand using horizontal technology
- Acquired 91 wells and 15,000 gross acres located in Rusk, Nacogdoches, and Shelby Counties, Texas. - 40-100% W.I. at a net rate of 3.5 Mmcfe/day
- Drilled and completed six (6) horizontal Cotton Valley Sand wells in Overton and Gilmer Fields; satisfied earning obligations at Overton Field
- Established $250 million credit facility with Wells Fargo Bank
2013
- Established Tanos Exploration II, LLC (Tanos II) with a $200 million equity commitment from Quantum Energy Partners, LP
- Executed "drill-to-earn" joint venture with industry partner covering 9,000 acres at Gilmer Field, Upshur County, Texas to develop Cotton Valley Sands using horizontal technology