Brian Alfaro, President of Alfaro Oil and Gas, Announces Company Involvement in the Eagle Ford Shale |
| January 04, 2012 | January 2012 Bond Updates |
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Alfaro Oil and Gas, as part of their ongoing commitment to providing their partners with the highest quality oil and gas prospects available, are excited about the recent acquisition of 450 acres in the Eagle Ford Shale. Alfaro Oil and Gas also continues to aggressively drill in the Barnett Combo Shale. (1888PressRelease) San Antonio, TX - President of Alfaro Oil and Gas Brian Alfaro is proud to announce that Alfaro Oil and Gas has acquired approximately 450 acres in the exclusive Eagle Ford Shale located in South Texas. It is believed that the Eagle Ford Shale, a young play with 72 producing oil leases in 2010 and 40 producing oil wells in 2009, has an estimated 3 Billion barrels of shale oil reserves that could add up to 420,000 BOPD to United States oil production. Brian Alfaro is thrilled that Alfaro Oil and Gas has acquired access to the much sought-after Eagle Ford Shale play and believes it to be a very attractive venture for the company as well as the joint venturers in partnership with Alfaro Oil and Gas. Along with Alfaro Oil and Gas, there are a number of other companies also active in the Eagle Ford Shale, including Forest Oil Corporation, EOG, Rosetta Resources, Chesapeake, Marathon, and Cabot. This is exciting news for Alfaro Oil and Gas, as EOG Resources believes that the Eagle Ford Shale, an area approximately 50 miles wide and 400 miles long that covers 24 counties, is one of the most significant discoveries of oil in the last 40 years. According to recent analysis by the Texas Railroad Commission, Eagle Ford Shale oil production from the end of 2010 to August 2011 has increased by over 214 percent. Historically, other Eagle Ford Shale completions have proven to be substantial oil and gas producers and ConocoPhillips, the third largest integrated energy company in the U.S. and the fifth largest refiner in the world, expects to triple its output in the next few years. Alfaro Oil and Gas' Eagle Ford Shale acquisition provides turnkey drilling and testing and an average of over 120 feet of potential oil play. Alfaro Oil and Gas expects the project to earn 70% net revenue on associated leases. About Alfaro Oil and Gas Alfaro Oil and Gas, a longtime leader in the industry, is committed to providing their partners with the highest quality oil and gas prospects available. Alfaro Oil and Gas remains dedicated to returning a profit to its program joint venturers and their commitment to this process is achieved mainly through the use of 3-D imaging technology, pre-stacked time migration and AVO imaging technology as well as drilling in proven fields. Alfaro Oil and Gas is continually pursuing partnerships with other highly regarded companies to drill and develop potentially productive properties, giving them a clear-cut advantage on the competition. For additional information, contact: Brian Alfaro Alfaro Oil and Gas, LLC 21022 Gathering Oak, Suite 2103 San Antonio, Texas 78260 (210) 490-8200 Brian@alfaroenergycorp.com http://www.alfaroenergycorp.com |
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