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Oklahoma City-based Panhandle Oil and Gas Inc. announced this week that it has signed an $80.4 million agreement to purchase a 16 percent working interest in 11,100 gross acres in the Eagle Ford Shale.
The Buda Limestone lies just below the Eagle Ford Shale, and is a longtime target that is attracting renewed interest from drillers.
Early settlers in Zavala County, Texas told tales of lost and buried treasure, but today’s riches lie thousands of feet below ground.
Wildcatter Harvey Howell hunts and hopes for elusive reserves on the edge of the booming Eagle Ford shale, without the 3-D seismic imaging and billion-dollar budgets of major oil companies drilling nearby.