The South Texas region consists of a widely diverse set of oil and natural gas properties located in a large area extending from north Houston to the border of Mexico.
These wells produce at depths ranging from 2,000 feet to 17,000 feet. Proved reserves for these mature properties, the majority of which are natural gas with associated NGL, represented approximately 2% of total proved reserves at December 31, 2016, all of which were classified as proved developed. This region produced approximately 27 MMcfe/d or 3% of the Company’s 2016 average daily production. During 2016, the Company invested approximately $2 million to develop the properties in this region.
Additional information regarding this asset can be found in our Emergence Presentation.