Company Overview of Fossil Oil Company Llc
Key Executives for Fossil Oil Company Llc
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Fossil Oil Company Llc Key Developments
Fossil Oil Company LLC Announces Shallow Water Drilling Program
Jun 26 15
Fossil Oil Company, LLC announced their first offshore drilling project set to commence drilling operations in August 2015, offshore Galveston Bay, Chambers County, Texas. The 'Prospect' is located in 10 feet of water in Galveston Bay on a 1,920 acre offshore State Lease block in Chambers County, Texas just 50 miles south of Houston, TX. This lower risk Prospect lies within the prolific Frio-Vicksburg producing trend of Southeast Texas. The Prospect was generated using a 30 square mile 3-D seismic survey covering the Western Galveston/Trinity Bay 3-D area. This ultra-high-resolution 3-D data was just reprocessed with the newest 3-D seismic software by Geotrace Technologies of Houston. This Offshore Project has tremendous economic potential. Fossil could possibly drill 3-4 additional Wells. Each well could reflect the anticipated initial production rate of 1,250 Barrels of oil/condensate and 22 Million Cubic Feet of Natural Gas each day. Many of the surrounding wells drilled to this 'Prospect' have done this repeatedly.
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