Foothills Exploration, Inc. currently holds over 50,000 acres in the Greater Green River and Big Horn Basins of Wyoming. The Company is actively seeking to grow its footprint in the Rocky Mountain and Gulf Coast regions by targeting high quality oil and gas assets for acquisition and high impact exploration projects for drilling and development.
Our management team and advisers have a deep working knowledge and depth and breadth of experience in our geographical area of interest. Our skilled and experienced technical team effectively evaluate the merits of prospective acquisitions, determining each project's geological risk/reward profile and enabling Company management to make informed decisions as to whether we can optimize and maximize the assets.
The Springs project, consisting of 38,120 contiguous acres, is a multiple objective oil resource play in the Greater Green River Basin. The prospect’s unconventional target is a Niobrara and Mowry fractured shale. Numerous oil and gas shows in the Niobara and Mowry shales surround the prospect acreage. The Company has also identified and mapped conventional drilling targets in the Muddy and Tensleep throughout the prospect area. The Company plans to acquire 3-D Seismic and complete its geologic assessment in the current fiscal year.
The Company owns a 75% working interest in the Ladysmith Anticline prospect located in Fremont County, Wyoming. This project covers 3,061 acres and is located between the Great Divide / Greater Green River Basin and the Wind River Basin. The primary target zones are the variable Phosphoria and Tensleep sandstone with secondary considerations in the Madison limestone and Flathead sandstone. The prospect generation was based on a licensed 2-D seismic comprising of two seismic lines covering the Chevron/Echo – Greater Green River Basin.
Paw Paw Project
The Pawpaw project is a 3-D seismic defined prospect, which covers 4,467 acres and is a direct analog to the highly productive Tensleep Formation “Enigma” Field (EUR 3.7 million barrels of oil) located only two miles south. The Tensleep Formation has a history of prolific area production with two nearby analogues. The Pawpaw project has a potential from primary and secondary recovery of up to 2 million barrels of oil.
The Ironwood Project is a 6,115 acre updip field extension play. The adjacent “Cotton Creek” Field produced approximately 67 million barrels of oil (“MMBO”) and 68 billion cubic feet of gas (“BCFG”) primarily from the Phosphoria Formation. Koch Exploration’s evaluations and the Company’s preliminary analyses indicate that collectively potential estimated ultimate recovery (“EUR”) is 5 MMBO. The Ironwood project has both vertical and horizontal development opportunities, with the potential of 9 vertical wells using 80-acre spacing or 12 horizontal wells on 320-acre spacing.