Morgan Creek Energy expands land position on the Cedar Creek oil and gas prospect
Morgan Creek Energy Corp. has acquired an additional 150 acres in the Cedar Creek field in Conecuh County, Alabama.
As previously announced, the Company’s acreage, which now totals over 250 acres, sits atop a gas-driven reservoir located at approximately 11,500 feet in depth. The Little Cedar Creek field has produced approximately 2.4 million barrels of oil and 2 billion cubic feet of casinghead gas, with the majority of production taking place in the past four years. The field has had only one dry hole to date.
William Bolles, President of Morgan Creek Energy states, “This is an important step in the assembling of prime acreage by our Company in the prolific Cedar Creek area. Since the planned vertical drilling does not normally require completion “frac” (a permeation fracture), the possibility of damaging a successful well is greatly reduced. This would logically contribute to a lower overall cost in bringing potential wells to production.”
