Just below one of the most productive shales in Texas is another treasure trove of crude oil. One layer underneath the Eagle Ford Shale is the Buda limestone formation, a sedimentary rock formation that is said to be twice as thick as the Eagle Ford in some areas.
This could mean that the Buda limestone potentially contains much more crude oil and hydrocarbon than the Eagle Ford. Current studies of the formation have not yet yielded definitive statistics.
Like its neighbor above, the Buda limestone needs to be drilled horizontally. But since the formation is already fractured naturally, it costs much less to drill and complete a well. There would be no need for expensive chemicals and sand mixtures to extract crude oil. And the rig models needed to dig the formation are less costly and more readily available.
Several companies have already tapped into the opportunities present in Buda limestone since the start of the decade. And it could not have come at a better time as the discovery of the abundance of crude oil in Buda came during a period of high oil price, and companies were looking to slash the cost of oil by increasing the supply.
Brian Alfaro is the founder and president of Primera Energy LLC, an oil and gas company headquartered in Texas. The company provides its shareholders with the highest quality, unconventional shale prospects. To read more about the company and the industry, follow this Facebook page.