Post by
Margin321 on Nov 06, 2024 3:26am
Best spot TXP has been in for a long time
Infrastructure is now complete to increase production to 140 mmcf/day. First two C pad wells are now connected into system and being tested. Gas produced during tests will be sold. Both new wells will be on continuous production in two weeks.
B pad is complete with riser on pas and flow lines in place. New B wells will be spud soon and simply need pipe from well head to riser with a few bolts.
Adding the Rio Clara block is huge. Cascadura field extends into Rio block in huge way. First Rio well can be drilled from the C pad (near boundary) and can be hooked up right away. There are other Herera and Cretaceous prospects on Rio block. Other Ortoire targets like Royston (Herera) and Kracken (Cretaceious) also extend into Rio block.
When production reaches 140 mmcf (in 2025) that will provide cash flow for operations, development, and exploration. TXP will be self funding.
TXP now controls huge a swath of prolific southern basin including high percentage of prolific Herera fairway and multiple cretaceous prospects which could be game changing and catapult TXP to a whole different level.