Mainland Resources, www.mainlandresources.com – the oil and gas developer currently focused on emerging and early stage projects in regions with solid potential for significant material discoveries, announced the retention of 30-year industry veteran and President of Schubarth, Inc., Stephen Schubarth, to design and oversee fracking on its Burkley Phillips No. 1 Well.
The Burkley Phillips No. 1 well is within the 17.8k acre Buena Vista prospect area controlled by the Company and its partners, and is located in Jefferson County, Mississippi.
The renowned Mr. Schubarth has three decades of experience with such industry giants as Arco, Chevron and Halliburton, with particular emphasis on Production, Reservoir Engineering, the design for completed wells and enhancing production, making him an ideal choice for MNLU.
Of particular note is Schubarth’s direct consultation with Leor Energy on the fracking for the extremely successful Amoruso Prospect, a Bossier Sand play in East Texas, which was later sold as part of a deal to an Encana subsidiary for $2.79B.
The parallels between Buena Vista and Amoruso are numerous:
• Late Jurassic reservoir
• 2-3k foot thickness
• High pressure, high temp environment consisting of stacked shales and tight sandstone
A vertical well, utilizing much of the same design and treatment employed at Amoruso, looks to be the appropriate solution for Buena Vista and it is clear that Schubarth will be of inestimable value when it comes to maximizing the output of the Burkley Phillips No. 1.
President and CEO of MNLU, Mike Newport, spoke of the fortuitous appointment as being a major win for the Company, as Mr. Schubarth is expert in designing successful fracture stimulation for precisely this type of shale formation and will prove instrumental.
The strong track record Schubarth brings to the project and the promising potential of the project itself are very good news for MNLU shareholders, as the Buena Vista develops amid surging demand in a less than stable global market.
Indeed, the Buena Vista acreage is an exciting opportunity for MNLU, one which promises to add a major component to the Company’s overall profile.