Gulf Coast Western has secured around 40,000 acres into its position in South Louisiana, US for Bonanza project, and has received necessary state and federal permits to begin a 3D seismic survey.
The company plans to start 3D seismic survey to gather detailed data on the acreage in Evangeline and St. Landry Parishes of Louisiana, which covers the Upper Wilcox, Lower Wilcox, Cockfield, Sparta and Frio formations.
Gulf Coast intends to begin drilling program in the second quarter of 2014, based on the results of 3D survey.
Gulf Coast Western CEO Matthew Fleeger said the acquired acreage holds tremendous potential, according to initial studies.
“There has been significant development in this area in the last 10 years resulting from 3D surveys, and this is one of the last large acreage positions in the area that has not been surveyed,” Fleeger added.
Gulf Coast Western has oil and gas assets in Texas, Louisiana, Mississippi, Oklahoma, and Colorado.