The Koliba prospect is located approximately 3.5 miles southwest of Bloomington, Texas in the North McFaddin Field. According to Texas Railroad Commission (RRC) maps and records, the North McFaddin Field hosts 87 productive oil and gas zones.
Steven Weldon, CEO of Signature, said: “With improved weather conditions in South Texas, specifically in the North McFaddin field, we are now able to target a more specific date to begin drilling. Our operator has stated a goal to commence drilling on or around February 15th, weather permitting.”
The company has identified three target zones in the Frio Sands. RRC records state seven wells from these three target zones had produced 390,426 barrels of oil and 2,472,481 thousand cubic feet of gas.
Signature Exploration and Production is an independent energy company engaged in the exploration, development, exploitation and acquisition of on-shore oil and natural gas properties in conventional producing areas along the gulf coast of Texas.
