Eratz Oil & Gas has been involved O&G drilling and production since 1989. Activities began in South Texas Frio County where we drilled wells to a depth of 6,800 feet in the Austin Chalk Formation, an upper Cretaceous geologic formation in the Gulf Coast Region. These successful wells resulted in handsome profits for our investors, which included Eratz. The industry was just beginning to utilize horizontal drilling methods, and we decided to sell at a profit the leases and equipment to a leading oil company in order to focus on drilling opportunities which better fit our experience and expertise.
Throughout the years, Eratz has had operations ranging from Southeastern New Mexico's Lea County Wolf Camp Formation to the Texas counties: Archer, Cottle, Fisher, Ford, Haskell, Jones, Nolan, Palo Pinto, Taylor, Throckmorton, Tom Green and Wichita. We have also operated in Northwestern Louisiana and in Kay County, Oklahoma.
In September 1991, Eratz became a bonded, licensed operator in the states of Texas, Oklahoma and Louisiana, and drilled and completed three wells in Wichita County, which were later sold to other independent operators. In 1992 and 1993, Eratz drilled and completed 12 oil wells in Archer and Throckmorton counties. In late 1993, Eratz began drilling natural gas wells in Oklahoma and Northern Louisiana. Eratz drilled approximately 30 natural gas wells, which were later sold to another operator.
In the early 1990's in Wichita and Archer counties, Eratz drilled 23 shallow wells and was successful 18 out of 23 times, with only 5 dry holes. Once again, Eratz was able to sell the 18 shallow well properties to another leading oil company in the region, resulting in large profits for the investors. Eratz was involved in drilling 5 wildcat wells of a depth of 5,100 feet in Throckmorton County, of which 4 of the wells were successful.
In 1995, Eratz moved its focus to gas wells in Palo Pinto County, Texas. From 1995 to 2004, Eratz drilled 55 gas wells in Palo Pinto County, all but 12 of which were productive. The productive wells have made 35,000 barrels and over 3.5 billion cubic feet of natural gas since 1995. Eratz also built a twelve-mile gas gathering system in Palo Pinto County. In 2002, Eratz was approached by a mineral rights owner to drill on his land in Coleman County Texas, where Eratz successfully drilled 12 new oil wells in the Gardner Sand Formation through the end of 2008. Out of the 12, 9 productive wells have totaled 235,000 barrels of oil and close to 100 million cubic feet of natural gas since 2002.
From 2004 through 2006, Eratz drilled 6 oil and gas wells in Cottle County, Texas, and from 2005 to 2007 drilled another 6 gas wells in Palo Pinto County. 6 of the wildcat wells were productive and have developed into an 8-well offset oil field.
In 2006, Eratz drilled and completed 2 additional wells in Coleman County in the Gardner Sand, and based on those results, drilled 2 more oil wells in the same Gardner Sand in 2007. In 2008, Eratz purchased the Goldsboro Field in Coleman County, a field which in the 1960's and 1970's produced 1.5 million barrels of oil from 29 wells. Eratz has 3 wells with 6 more offset locations in the Goldsboro Field. A field extension is a possibility with a larger reserve potential.
From 2011 to the present, Eratz has averaged two or three joint ventures each year which account for 14 wells. All but one are commercially successful. IP and daily production range from 20 to 175 barrels per day, and all joint ventures are profitable. These wells are in Coleman County and have developed the Leonard and Clayton fields.
Eratz currently operates 25 wells and has production or active joint ventures in Coleman, Cottle, Fisher, Nolan, Palo Pinto and Runnels counties Texas.