Emerald Bay Energy Inc. (EBY.V) announced that it recently completed a land transaction of approximately 1108 acres (380 net to EBY) known as Nash Creek in Guadalupe County, Texas. They are 3-year leases with a 2 year option to extend.
This Guadalupe County play is expected to yield multiple locations for Navarro, Austin Chalk, Pecan Gap, Buda, and Edwards formations.
As the operator, Emerald Bay has planned a deeper test to evaluate the Pearsall Shale on the subject lands. Emerald Bay said Nash Creek is an attractive addition to the company's land position in Guadalupe County and a good analog to the Wooden Horse prospect previously acquired and tested.
"Sound horizontal drilling techniques continue to unlock substantial reserves in this oil-rich region of South Central Texas," the company added.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
