SFPI - Santa Fe Petroleum Inc.
SFPI Company Overview and Description
About Santa Fe Petroleum Inc.: Santa Fe's Management has over 50 years of combined oil and gas development and production experience and plans the acquisition of production projects as well as bringing its current leases into production as soon as possible.
![[image]](http://2.bp.blogspot.com/-zmc8Lq_ccbU/UgZF3i-czMI/AAAAAAAABko/Uqin6ycXTeI/s1600/SFPIbanner1.jpg "[image]")
SFPI Contact Info
Santa Fe Petroleum, Inc.
Corporate Office
4011 W. Plano PKWY, Suite 126
Plano, TX 75093
Office: 888.870.7060
Fax: 469.467.6775
Email: info@sfpetroleum.com
Check out $SFPI Website:
http://www.sfpetroleum.com/
SFPI SEC Filings
http://www.otcmarkets.com/stock/SFPI/filings
$SFPI Headlines
http://finance.yahoo.com/q/h?s=SFPI+Headlines
SFPI -Barnett Oil Prospect
In December 2009, Santa Fe drilled a test well in the Barnett “Oil Window” and hired Baker Hughes to log and analyze side wall core samples which were sent to Weatherford Laboratories for further study. The formation at this location was 101 ft. thick. The side wall core samples were taken every two feet beginning a few feet below the Barnett Shale in the Ellenberger formation and above the Barnett Shale a few feet in the Marble Falls formation. The results show oil exists in a porous blanket type formation and is 101 feet thick. Weatherford Laboratories calculations of the “oil-in-place” as determined from the Shale Rock Properties (SRP) measurements of the core samples is 1.6 million barrels over a 100 ft. thick Barnett Shale formation on an 80 acre location spacing, or 20,000 Barrels per acre.
The petroleum engineer hired by Santa Fe determined that there should be five (5) wells per drilling location (each, a “Project”) in a layout similar to a dice with points (5) spots with the center location serving as the natural gas injection well and the four corner wells to be production wells. The engineer estimates full production from the pressurizing of the formation with the natural gas will take from 60 to 120 days and result in an estimated production rate of 50 to 200 barrels of oil per day (“BOE/day”) per production well (4 wells). Thus, using 75 BOE/day per production per well the total barrels produced monthly per Project would be 9,000 barrels.
We have a technical report written by a petroleum engineer on oil recovery in shale in Texas that estimated an oil recovery rate of thirty-seven percent (37%) or more is possible. However, using our engineer’s conservative recovery rate of approximately 20% this would equate to a per acre recovery of approximately 3,600 barrels per acre or 432,000 barrels of recoverable oil on a proposed 120 acre drilling location. Using an estimated net value of $65 per barrel after lease operating cost and a net revenue est. of 80%, the net reserve value estimate would be approximately $28 million per 120 acre location.
Our goal is to lease upwards of at least 20,000 acres in the area of the test well for our drilling and growth plan over the next few years. This will give us a major project for drilling both the Barnett Shale and Marble Falls formations.
SFPI -Marble Falls Prospect
In the summer of 2010 a horizontal test well was drilled in the Marble Falls formation in Jack County, Texas with exceptional oil production results estimated to be 300 BOE/day. The Marble Falls formation lies directly above the Barnett formation throughout north Texas and appears to have built up major oil reserves from the migration of oil from the Barnett formation. The operator that drilled the horizontal well as well as other major oil companies including EOG & Devon has since drilled a number of additional horizontal wells in the Marble Falls with continuing success.
The test well drilled by Santa Fe in December 2009 has approximately 175 ft. of thickness through the Marble Falls formation at its location. Because of the thickness in the test well location and the production results from the above referenced horizontal wells, Santa Fe is considering whether it will drill the next well in our acreage area as a horizontal well in the Marble Falls formation.
Our primary assets upon the closing are contracts to purchase leases & top leases in the area totaling approximately 2,732+/- acres (including a 76+/- acre test well location owned by our wholly-owned subsidiary, Santa Fe Land). The leases are estimated to hold an approximate 80% net revenue interest (“NRI”). The additional acreage wraps our original 76 acre test well location on the east, south and west sides. The test well location is planned to be enlarged from a 76+/- location to a 120 acre location which will include our leased acreage on its east side. This will create a 120 acre Proven Undeveloped (“PUD”) location on the south and west sides of the test location. Our objective is to maintain leases totaling 10,000 to 20,000 acres for us to create substantial oil reserves.
Investigate more about SFPI @ http://www.otcmarkets.com/stock/SFPI/quote for more due diligence.
SFPI Company Overview and Description
About Santa Fe Petroleum Inc.: Santa Fe's Management has over 50 years of combined oil and gas development and production experience and plans the acquisition of production projects as well as bringing its current leases into production as soon as possible.
SFPI Contact Info
Santa Fe Petroleum, Inc.
Corporate Office
4011 W. Plano PKWY, Suite 126
Plano, TX 75093
Office: 888.870.7060
Fax: 469.467.6775
Email: info@sfpetroleum.com
Check out $SFPI Website:
http://www.sfpetroleum.com/
SFPI SEC Filings
http://www.otcmarkets.com/stock/SFPI/filings
$SFPI Headlines
http://finance.yahoo.com/q/h?s=SFPI+Headlines
SFPI -Barnett Oil Prospect
In December 2009, Santa Fe drilled a test well in the Barnett “Oil Window” and hired Baker Hughes to log and analyze side wall core samples which were sent to Weatherford Laboratories for further study. The formation at this location was 101 ft. thick. The side wall core samples were taken every two feet beginning a few feet below the Barnett Shale in the Ellenberger formation and above the Barnett Shale a few feet in the Marble Falls formation. The results show oil exists in a porous blanket type formation and is 101 feet thick. Weatherford Laboratories calculations of the “oil-in-place” as determined from the Shale Rock Properties (SRP) measurements of the core samples is 1.6 million barrels over a 100 ft. thick Barnett Shale formation on an 80 acre location spacing, or 20,000 Barrels per acre.
The petroleum engineer hired by Santa Fe determined that there should be five (5) wells per drilling location (each, a “Project”) in a layout similar to a dice with points (5) spots with the center location serving as the natural gas injection well and the four corner wells to be production wells. The engineer estimates full production from the pressurizing of the formation with the natural gas will take from 60 to 120 days and result in an estimated production rate of 50 to 200 barrels of oil per day (“BOE/day”) per production well (4 wells). Thus, using 75 BOE/day per production per well the total barrels produced monthly per Project would be 9,000 barrels.
We have a technical report written by a petroleum engineer on oil recovery in shale in Texas that estimated an oil recovery rate of thirty-seven percent (37%) or more is possible. However, using our engineer’s conservative recovery rate of approximately 20% this would equate to a per acre recovery of approximately 3,600 barrels per acre or 432,000 barrels of recoverable oil on a proposed 120 acre drilling location. Using an estimated net value of $65 per barrel after lease operating cost and a net revenue est. of 80%, the net reserve value estimate would be approximately $28 million per 120 acre location.
Our goal is to lease upwards of at least 20,000 acres in the area of the test well for our drilling and growth plan over the next few years. This will give us a major project for drilling both the Barnett Shale and Marble Falls formations.
SFPI -Marble Falls Prospect
In the summer of 2010 a horizontal test well was drilled in the Marble Falls formation in Jack County, Texas with exceptional oil production results estimated to be 300 BOE/day. The Marble Falls formation lies directly above the Barnett formation throughout north Texas and appears to have built up major oil reserves from the migration of oil from the Barnett formation. The operator that drilled the horizontal well as well as other major oil companies including EOG & Devon has since drilled a number of additional horizontal wells in the Marble Falls with continuing success.
The test well drilled by Santa Fe in December 2009 has approximately 175 ft. of thickness through the Marble Falls formation at its location. Because of the thickness in the test well location and the production results from the above referenced horizontal wells, Santa Fe is considering whether it will drill the next well in our acreage area as a horizontal well in the Marble Falls formation.
Our primary assets upon the closing are contracts to purchase leases & top leases in the area totaling approximately 2,732+/- acres (including a 76+/- acre test well location owned by our wholly-owned subsidiary, Santa Fe Land). The leases are estimated to hold an approximate 80% net revenue interest (“NRI”). The additional acreage wraps our original 76 acre test well location on the east, south and west sides. The test well location is planned to be enlarged from a 76+/- location to a 120 acre location which will include our leased acreage on its east side. This will create a 120 acre Proven Undeveloped (“PUD”) location on the south and west sides of the test location. Our objective is to maintain leases totaling 10,000 to 20,000 acres for us to create substantial oil reserves.
Investigate more about SFPI @ http://www.otcmarkets.com/stock/SFPI/quote for more due diligence.
