PROJECT I: Minnelusa Fairway Program
Powder River Basin, Campbell & Crook Co., Wyoming
The Minnelusa play is primarily in the "Fairway" of the Minnelusa sandstone on the Eastern side of the Basin. Ridgeland currently has nearly SIXTY prospects that they are currently working on in the Minnelusa play. Most of the prospects are fully developed and Ridgeland is currently working the land on each. Ridgeland owns a database over the Minnelusa play consisting of over 83 square miles of 3D seismic, 7,000 linear miles of 2D seismic and detailed geological and geophysical mapping over the entire play area.
  • The average drilling depths on the Minnelusa play are from 5,500 to 7,000 feet.
  • Dry Hole Costs for a Minnelusa well in this play are approximately $450,000 to $550,000.
  • Completion Costs range from $250,000 to $350,000.
  • The average field size of discoveries is 1 to 3 million barrels of oil.
  • Success Rate on discoveries is 1 in 3.
  • The expected return on investment, risk-weighted, is 6 to 1.
PROJECT II: PRB Cretaceous Program
Powder River Basin, Johnson & Converse Co., Wyoming
The second play is a deeper play in the Southern end of the Powder River Basin primarily targeting the Dakota sandstone, with additional potential producing zones above the Dakota. The prospects are 3D delineated. Ridgeland currently has nearly THIRTY prospects that they are currently working on in the Dakota play. Ridgeland has applied their 3D interpretations to a database owned by Ridgeland over the play consisting of 2D seismic and detailed geological and geophysical mapping over the entire play area.
  • The average drilling depths on the Dakota play are from 12,500 to 15,800 feet.
  • Dry Hole Costs for a Dakota well in this play are approximately $2,500,000 to $3,500,000.
  • Completion Costs range from $500,000 to $750,000.
  • The average field size of discoveries is 5 to 10 million barrels of oil and 1 to 2 billion cubic feet of gas.
  • Success Rate on discoveries is 1 in 5.
  • The expected return on investment, risk-weighted, is nearly 10 to 1.