Cross Border Resources released an operations update on the company’s oil and gas activity in Texas, where it is active in the Permian Basin.
Cross Border Resources signed an agreement to acquire a working interest in an oil and gas development program in Texas. The company is purchasing a 10% working interest in 320 gross acres at the Big Star Six Shooter project in Dawson County, Texas.
Cross Border Resources said that the total project area is 800 gross acres and is targeting the Wolfberry trend. The company has an option to participate in an additional 480 gross acres at the project later in 2011.
Cross Border Resources said that the first well at the Big Star Six Shooter project will be drilled in late June 2011. Other formations that may be present at the site include Dean, Canyon, Spraberry and Strawn.
Cross Border Resources reported that three wells at the company’s Tres Amigos project have undergone hydraulic fracturing operations and are flowing back fluids. The company purchased a 10% working interest in the Tres Amigos project earlier in 2011, and estimates that the property has eight remaining drilling locations.
For more information on the company, go to www.xbres.com