The Tres Amigos project consists of approximately 825 acres, targeting the Wolfberry trend in both Dawson and Borden counties, Texas, with 11 possible drilling locations based on 80 acre spacing units.
Cross Border will participate in the initial three wells on 1/3 for a 1/4 promoted basis with the remaining eight wells to be drilled to each working interest partners’ proportionate ownership.
The targeted depth for each well is 10,825′ focusing on the Wolfberry trend, which consists of the Sprayberry/Dean, Wolfcamp, Canyon, Strawn, and Mississippian formation.
Drilling of the initial well began recently on the Shortes 6, #1 well located in Borden County, Texas and has already reached a drilling depth of 3,242′.
The company intends to fund these activities from existing cash flow and availability under its senior credit facility.
