FormCap Corp. is an emerging domestic exploration and development company in the Oil and gas sector. To date, the company has assembled 4,800 acres of oil and gas mineral leases – the Weber City Prospect – located in Curry County in eastern New Mexico.
Geologically, FormCap’s Weber City Prospect is on the northern flank of the prolific Permian Basin and focuses on the Cisco Formation of Pennsylvanian Age. In order to better understand the prospect from a geological perspective, here is a brief description of the Pennsylvanian Reef reservoirs formed:
The Cisco Formation is primarily marine limestone and shales, with the reservoir developed in limestone sequences. Structures evolved on the seafloor of the relatively shallow, warm Pennsylvanian seas. Upon these structures, patch reefs began to grow. As the Pennsylvanian sea deepened, the reefs grew vertically in an attempt to stay close to the surface and most critically within the ’sunlight’ zone. A major regression of the sea left the reefs exposed leading to excellent porosity and permeability development.
Several of these Pennsylvanian Reef reservoirs are giant oil traps, producing over a billion barrels of oil in the Permian Basin. The company’s Weber City Prospect focuses on the same type of oil trap. Detailed mapping, landsat imagery, seismic analysis and log evaluation outlines a major, combination stratigraphic, structural trap on the Weber City Prospect which mirrors the existing Anton Irish Field. FormCap is hoping for similar results in the Permian Basin where individual leases can produce over a million barrels of oil.
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