AMADEUS Energy, through its US subsidiary Amadeus Petroleum has agreed to acquire, subject to due diligence, a 73 per cent working interest in the Raccoon Bend Field.
The project is located about 100 kilometres north west of Houston and about 11 kilometres south west of Hempstead in Austin and Waller Counties, Texas with a total well count of 57 producers, seven injectors and 77 shut-in wells.
According to the Amadeus announcement, Raccoon Bend is a complex faulted structure with faulting caused by a deep-seated salt dome.
Productive sands occur from 300 metres to 2,300 metres.
Cumulative oil production to January 1 2000 exceed 106 million barrels and the lease currently produces 530 barrels of oil per day. Whichita Falls-based TNT Engineering will be the operator.
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