Grid Petroleum Corporation
| Industry | Oil and Gas Producers |
|---|---|
| Trades as | OTCBB:GRPR |
| Website | http://www.gridpetroleum.com |
Grid Petroleum Corp is an American oil & gas company focused on the acquisition, exploration and development of oil and gas properties in North America.
Grid Petroleum’s key asset is the SE Jonah Prospect, based in Wyoming’s Greater Green River Basin. During 2006, the State of Wyoming was second in natural gas production and recorded it’s highest level of natural gas production, largely due to two massive but previously undeveloped natural gas formations – the Jonah Field and the adjacent Pinedale Anticline.
Grid Petroleum’s key asset is the SE Jonah Prospect, based in Wyoming’s Greater Green River Basin. During 2006, the State of Wyoming was second in natural gas production and recorded it’s highest level of natural gas production, largely due to two massive but previously undeveloped natural gas formations – the Jonah Field and the adjacent Pinedale Anticline. 2007 followed along similar lines, with further development in the area continuing. With several leases and approaching 4,000 acres of high impact acreage, and potential future spacing for 300 wells, Grid is solidly positioned in this historically highly productive, low risk region.
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Jonah Prospects
The adjacent Jonah Field and the Pinedale Anticline are recognized as the foremost gas fields in the Rocky Mountains. According to the Wyoming State Geological Survey, the Greater Green River Basin contains approximately 26 TCF of natural gas which is the largest reserve Statewide. The prolific Jonah Field is estimated to contain 8 to 15 TCF of Natural Gas, which currently produces from more than 500 wells.
A world class location generally means world class neighbors, and that’s why most of the surrounding acreage is currently held by EnCana and Yates Petroleum, with BP and Chevron/Texaco also holding significant positions. Add to this that during 2006, 3,243 wells were drilled in Wyoming with an astonishing success rate of 97.9% for drilling and completion, and it’s why this low risk high yield region is key to Grid’s success.
Both Grid and Independent contractors are working on analysis of how best to develop this exciting prospect
Kreyenhagen Trend
Kreyenhagen Trend acreage in the California shale play of the San Joaquin Basin is different than other unconventional oil plays like the Bakken and Eagle Ford oil plays; these unconventional shale zones, Kreyenhagen and Monterey, lay beneath long-established multi-billion barrel conventional oil discoveries, these source rocks are heavily fractured by regional tectonics, creating thick shale sections spanning 500-3500ft, which are accessible by vertical wells.
Steep anticline structures eliminate the need for costly fracturing necessary in other tight shale’s. The favorable result is a more profitable decline profile – lower initial production rates, but much slower decline
Drilling Partner Solimar Energy
Corporate Strategy
Solimar Energy's Strategy is to:
Through "on the ground" commitment to California, acquire a mainly oil prone asset base with large resource potential. The Company's main focus area is the oil prolific San Joaquin Basin. Through smart application of the drill bit and modern technologies convert the resources to reserves and then production.
To deliver its strategy Solimar mostly operates its projects holding large equity positions.
http://www.solimarenergy.com.au/aboutSolimar.php?p=13
http://www.solimarenergy.com.au/solimar-projects.php?p=7
State of California Division of Oil, Gas & Geothermal Resources
http://www.conservation.ca.gov/DOG/Pages/Index.aspx
http://www.conservation.ca.gov/dog/pubs_stats/Pages/forms.aspx
California Division of Oil, Gas & Geothermal Resources Maps
http://maps.conservation.ca.gov/doms/index.html
Wyoming Oil and Gas Conservation Commission
Map of Permits
Drilling Partner Kidd Production Company of Texas
Grid Petroleum Corp. (OTCBB: GRPR) The Board of Directors are pleased to announce that Grid Petroleum has received from the Joint Venture Development Operator, Kidd Production Company of Texas, RRC Operator No. 458825 confirmation of the previously reported drilling timeline for Phase 1-A.
Subject to receiving the drilling permit from the Texas Rail Road Commission, which is under application, the initial drilling for Phase 1-A is expected to begin March 15, 2012.
The Joint Venture Agreement is for the development of a Mutual Area of Interest in the Northwest Premont Field in Jim Wells County, Texas. The Field covers 4,500 acres and is part of the Gulf Coast Trend in South Texas.
Phase 1-B of the Joint Venture Development Agreement the company recently announced will be a total of 5 wells, 2 of which will be drilled for production along the top of the reservoir, 1 well will be re-entered for production near the top of the structure; 2 wells for pressure maintenance, one water and one gas well.
These wells will be drilled to be produced only from a 2350' Miocene reservoir, which was very prolific to the south of the field. Earlier wells drilled in the 40's and 50's produced an average of 50,000 bbls of oil per well on only 10 acre spacing and had excellent rates of initial and average production. This same zone logged and cored oil in the Northwest Premont lease block, up-dip from the original wells.
The Miocene zone was produced as part of the Premont field to the south of the Northwest Premont and was developed northward up to the boundary of the east/west running County Road 425. Mapping of the Miocene zone from well logs drilled through the formation many years later indicated the formation continued northward and was getting thicker and higher on structure as it moved onto what is now the Northwest Premont lease block. The estimated reserves of this structure is 750,000 bbls which we feel could be recovered with 7 to 10 wells with a good gas injection and pressure maintenance program.
As previously reported:
AP Yang, Petroleum Engineers of Houston, Texas, ran 45 days of open flow tests to draw down the pressure of each of the productive zones in the Guerra #2 well. The absolute open flow rate calculations indicated the lobe flow of the Laughlin pay zone, which is a Frio Sand formation found at the 3,300 to 3,420 ft depth. The lower lobe oil deposit tested at 15,541,000 cubic feet gas per day. The upper lobe flow tested at 5,063,000 cubic feet per day. The combined total of 20,604,000 cubic feet per day from 16 feet of net pay zone for this one well with multiple pay zones.
Preliminary Reserves Estimates for the Guerra #2 are 100,000 to 150,000 Barrels of oil and 1.5 Billion Cubic Feet to 2.5 Billion Cubic Feet of natural gas.
http://ih.advfn.com/p.php?pid=nmona&article=51415259&symbol=GRPR
RRC of Texas
Find oil & gas well and production information here:
Grid Petroleum is establishing an Oil and Gas Operations subsidiary for the purposes of Operating future drilling and exploration activity.
Operator, Grid Petroleum Production Inc.
Operator No. 333845
Operator, Kidd Production Company (for the Gustavo Garcia #3 well)
Operator No. 458825
Texas RRC Oil Well Interactive Map Infomation
The GIS application is updated nightly, Monday through Friday beginning at 8:00 pm.
- Enter the API number 249-32579 (For Gustavo Garcia #3) in the SEARCH BY: Wellbore API Number of the Public Viewer.
- Then Selecting "Identify Well" from the Map Tools pulldown menu and clicking on the well shown on the map.
- You can find the API numbers for individual wells by looking up permits by operator number.
SEC Filings
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