Texas Energy Group, LLC, along with industry partners and its sister operating company Resaca Resources, LLC (Resaca), began drilling the Pelican South #1 well. This is the second well on a 1200 acre Wilcox structure discovered several months ago by the drilling of the Pelican #1 well. “What a great success for our partners to be able to drill in a field that’s produced for over 80 years and discovered commercial formations never produced before,” stated Waylan Johnson, President of TEG. He further stated,“To be able to identify 500,000-700,000 BOE at less than 10,000’ on one structure is an enormous financial impact for TEG.”
TEG (TexasEnergyGroup.com) expects to drill possibly 2-3 additional wells in the coming months to fully develop the field.
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