Sierra Resources
Sierra Resources

History

La Reforma Field – Hidalgo County, Texas

Background

  • Sierra purchased the La Reforma Field from Merit Energy in 2002
  • 4,800 acres
  • Existing production 4.6 MMcfe/d

Sierra Value Creation

  • Sierra acquired an existing 3-D database and combined it with surveys from ExxonMobil and Shell
  • Subsequently, Sierra increased the land position to 6,300 acres
  • Drilled and completed 22 successful wells
  • Exit production 27 MMcfe/d

Exit

  • La Reforma was sold to Chesapeake Energy in 2006
  • Subsequently, Chesapeake increased production to a peak rate of 60 MMcfe/d
La Reforma Field