Upstream operates six fields in the Louisiana state waters of Plaquemines Parish. The Company has approximately 12,000 gross acres (10,940 net acres) under lease in Southeast Louisiana.
The Miocene trend in Southeast Louisiana continues to offer significant high-yield gas condensate and oil-rich exploration opportunities for Upstream to enhance the strong production base it has built in the area. An extensive 3-D seismic database with proprietary reprocessing, existing operational infrastructure, and years of experience understanding the regional geology has given the Company the ability to develop and exploit this region more efficiently and economically than its peers. Upstream currently has multiple drilling opportunities leased and ready to drill. The Company currently has approximately 6,600 square miles of 3-D seismic data under license in Louisiana.
Southeast Louisiana currently accounts for approximately 50% of Upstream’s production.
Upstream operates two fields in the Jaspo project area located in Southeast Texas and has approximately 11,000 gross acres (6,026 net acres) under lease in Texas.
The Jaspo area of Southeast Texas is comprised of oil rich gas fields in the Yegua trend. The Company has developed a major area of the trend with significant discoveries and infrastructure utilizing a 192 square mile proprietary 3-D seismic database. Upstream has developed a regional framework, identified the successful seismic signature response, and has an extensive understanding and competitive advantage in this area. Significant additional opportunities with extensive follow-up potential are present in the Yegua and the underlying expanded Cook Mountain section that are both productive along trend. Including the Jaspo project area, Upstream currently has 4,200 square miles of 3-D seismic data under license in Texas.
The Southeast Texas region currently accounts for approximately 50% of Upstream’s production.
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