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Texas

Areas of activity

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Barnett Shale

The Barnett Shale Trend of the Fort Worth Basin is the premier onshore North American gas play. Over 3,700 gas wells are producing 1.1 Bcf of gas per day in what is the largest gas field in Texas. Palo has a working interest in over 40 successful Barnett Shale wells and continues to seek acreage blocks for future development.  With current leasehold interests in Parker, Tarrant, Johnson, Bosque and Hamilton counties, Palo maintains a strong position in the Barnett Shale trend.

Permian Basin

The Permian Basin, also called the West Texas Basin, is a large sedimentary basin in western Texas and southeastern New Mexico, noted for its rich petroleum, natural gas and potassium deposits.  Palo has been active in this basin since its inception in 1976 and has drilled more than 200 wells in the Permian Basin. Currently, Palo is redeveloping some of its held-by-production acreage in Glasscock, Reagan and Irion Counties, TX.  COG (foremorley RSP Permian), Hunt Oil Company and Sable Permian Resources are operating most of Palo's Wolfcamp development projects.  It is estimated that Palo has ownership rights in 100 plus proven Wolfcamp locations.   

East Texas

Cotton Valley Haynesville-Bossier Trend – The East Texas Basin has periodically excited the oil and gas industry since 1930 with the discovery of the giant East Texas Field. As the industry progressively drilled deeper throughout the basin tremendous new conventional oil and gas reserves have been developed. Now, since the onset of the Barnett Shale play, the industry has been looking for new unconventional gas reservoirs in black, petroliferous shale sequences present in many basins. This search activity has developed an exceptional new play with vertical and now horizontal drilling in the Cotton Valley Haynesville-Bossier sequent on both the eastern and western sides of the East Texas Basin. Produced gas reserves from conventional, vertical wells completed in the Haynesville-Bossier are in the trillions of cubic feet of gas. The potential unconventional, horizontal well gas reserves are estimated to be several times larger. Palo has acquired leasehold interests in Cotton Valley Haynesville-Bossier producing areas on the west flank of the East Texas Basin where it presently holds interests in several large gas units in which vertical wells have been completed and horizontal Bossier wells are planned.