North Codell Prospect
Three Crown Petroleum has leased 3,579 gross/net acres in Goshen County, Wyoming north of Helis Oil and Gas's Codell/Niobrara play in Laramie County, Wyoming. Analogous wells from the Helis new drills have ultimate estimated reserves on their wells ranging between 500,000 to 1.5 million barrels of oil, with the initial production on the wells averaging between 500-1,500 barrels of oil a day. Net recoverable barrels of oil to our interest is estimated at 7.56-24.2 million barrels of oil. Based on our geological review, our prospect is an analog of the Helis activity to the south. Our estimated pay thickness for the Codell is between 30-35 feet, based on a review of past vertical wells drilled in our area, and the resistivity's of offset well control range in the 4.5 to 5 range.
We will deliver an 81% NRI. You can buy all three leases on the Map or one of the leases (Blue, Grey and Yellow). Our leases have a five year term, with an option to extend for three additional years, which would extend the term of the acreage to June 2027.
If you’re interested in more information, we can arrange a meeting or call with our geologist in Casper. We can also forward to you our Power Point geological summary.
Please feel free to call or e-mail us directly or reach out here for more information.