Liberty Energy Corp LBYE

Liberty Energy Corp is an energy company. The Company is engaged in the acquisition, exploration and development of natural resource properties. The Company's properties are located in the United States. The Company's operations are primarily located in Baylor County, Texas. The Company has four oil and gas producing leases in a transaction, which covers 1,038 acres with 17 oil wells, four injection wells and related surface production equipment. The leases provide 100% working interest and 70-75% net revenue interest (NRI) for the Company in exchange for seller financing, a carried 5% ORR and $50,000 in restricted preferred stock. The leases are estimated to contain a minimum of 15 and likely up to 30 infill drilling locations with expectations based on historical IP (initial production) rates of between 15-20 BOPD on new wells. The Company has working interests in Bastrop County, Caldwell County and Eastland County, all located in Texas.

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Liberty Energy Corp

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Post by optiprimeon Mar 23, 2011 10:52am

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Post# 18327524

Liberty Energy Announces Plans to Drill a New Well

Liberty Energy Announces Plans to Drill a New Well on Alexander A Lease, Lockhart, Texas

LBYE is delighted with the progress made on the Lockhart lease, and after considering multiple options, have announced plans to further develop the asset by drilling a new test well that will specifically target the Edwards shale play.

"We are excited by our plans to drill a new well that will specifically target the Edwards to test the potential for production from this zone. Geological reports based on geological, offset and historical data suggest that each vertical well drilled could produce 40,000 to 50,000 bbls, and each horizontal well 250,000 to 300,000 bbl.”

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