Curzon Energy to pull the trigger on participation in Pared's Texas Gas Project

The parties believe the application of modern drilling, logging, completion & subsurface technologies would allow for significantly enhanced recoveries and allow assessment of the true productivity of the 1,000ft stacked play potential over the Claiborne Group formation.

Curzon Energy PLC, the North America-focused natural gas project developer, is to proceed with its planned participation in Pared’s Texas Gas Project.

The company signed a memorandum of understanding with Pared last November paving the way for joint development and after appraising the project the company has decided to pull the trigger.

The initial development plans include one vertical and one horizontal development well followed by a three to five well delineation programme.

Curzon said it is expected that gas sales would commence immediately after the well tests and that there is plenty of pipeline and processing capacity in the region.

“This exciting project positions Curzon Energy with a very attractive entry point to the Texas gas market with a drill-ready opportunity seeking to apply advanced drilling and completion technologies to known gas bearing horizons where techniques have little changed in many years,” said Scott Kaintz, the chief executive officer of Curzon.

“We also believe it offers a very complementary position to our existing CBM [colbed methane] project in Oregon. We look forward to completing the negotiations around our participation with Pared in the Texas Gas Project over the coming weeks," he added.

Source: proactiveinvestors.co.uk