3-D Seismic Shoot on Brookshire Dome to identify new reserves down to 15,000’.
Drilled 58th well in Brookshire.
Industry Funding Source secured to pursue producing fields with additional drilling potential.
1st Million BOE produced from Brookshire Dome Flank (-3900' to -5000). The area still contains additional proven drilling locations and unperforated pay intervals in current producing wells.
D&M Reserve Appraisal Report for Magna Leases, Brookshire Dome Flank:
- 4.7 Million Gross BO remaining (-3900' to -5000’).
Drilled 50th well in Brookshire Dome Field.
Became the 3rd Largest Oil Producer in Waller County, Texas.
Concluded first multi-well production divestiture for $5.2 Million.
Drilled Discovery Well on Brookshire Dome Flank, keying off of regional and specific subsurface geologic study, and aerial imaging combined with 3D seismic data and Electro Magnetic Tellurics (EMT).
Established Operating Company, Triangle Three Resources, LLC, to oversee all field operations, manage subcontracted professionals/vendors and coordinate all land, legal and engineering pursuits.
Drilled first well in Brookshire Dome Field.
Identified Potential Reserves in Multiple Underdeveloped Salt Domes with Brookshire Dome offering the greatest number of drilling opportunities for new hydrocarbon discoveries and further development.
Completed a Regional Study of 33 Salt Dome Fields in Houston Salt Dome Basin to define further field development potential, productive common denominators (SE Flank analogies) and refine pursuit of each individual field area.
Scooter Glass joined adding Petroleum Geology/Engineering/Geophysical experience and Operating Management expertise with over 40 years’ experience to date.
First multi-well oilfield acquisition.
Randal Rust joined adding Engineering and Oil and Gas Finance experience with a total of 30 years’ experience to date.
Drilled 1st well.
C. E. "Kip" Zimmerman formed Magna to develop proven oil fields with JV partners.