Ellsworth shale is a rich and prolific regional shale formation in Michigan, USA.
Black Bear Energy Resources is currently focused on developing its 100% owned acreage in the Ellsworth shale formation, with approximately 3.5 million barrels of oil in place.
The opportunity is significant.
Our corporate strategy is focused on the responsible development of proven shallow oil and natural gas-producing assets. The company is well-positioned and maintains a straight-forward development plan.
Black Bear Energy Resources is focused on multi-well pad drilling and long lateral wells to improve efficiencies and reduce surface impacts. Our management team knows how to responsibly drive down costs whilst increasing efficiency in all business areas. We have a successful history of similar, profitable ventures in the Permian Basin, Louisiana, as well as offshore in the Gulf of Mexico.
As an independent operator, our capital expenditure on wells is projected to be lower than the market average.
Black Bear Energy Resources has a non-compromised opportunity to develop a significant shale play in the Ellsworth shale in Michigan, US.
The Company is a technically-driven, environmentally responsible operator with a focus on efficient, low operating expenditures.
The Ellsworth Shale is an highly scalable geographic play for both oil and natural gas. The opportunity is vast as this regional shale is commercially under-developed.
Black Bear Energy Resources has 100% ownership of the 1,400 acre Area of Mutual Interest (AMI) in the Ellsworth Shale. This 1,400-acre tract in Newaygo and Oceana Counties has formations created by the Great Lakes of Michigan and Huron.
This is an exceptional asset with 150 feet of oil and gas-bearing shale found at a depth of about 1,450-1,550 feet. Based on the initial calculations, it is anticipated there are approximately 3.5 million barrels of oil in place in the Enders AMI.
The 1-30 well, also 100% owned by Black Bear Energy Resources, is located within the area of mutual interest (AMI). The initial plan is to develop three additional wells adjacent to the 1-30 well for a total of four wells on this 4.9-acre pad. There is the potential for up to 20 wells on the AMI.
Anticipated oil flow rates are 75-150 bbl per day per well, and natural gas 100-150 mcf (million cubic feet) per day per well.
Each well will be drilled with a 2,000 - 3,000 foot lateral leg at 1,450 -1,550 feet along the Berea sandstone line. The Berea sandstone is the natural trapping mechanism for the oil and gas-bearing Ellsworth shale.
By creating a digital twin with 5G technology, the company has the ability to monitor well performance alongside both safety and environmental considerations on a 24/7 basis. Black Bear Energy Resources will utilize highly sophisticated technology to shut-in or open-up wells with an immediate response as needed.
The time and money savings will be significant as they pertain to safety, capital allocation, and environmental issues.
The natural gas produced will flow directly into the Huber pipeline 100% owned by the company. It is located 100 yards from the Enders 1-30 well, providing infrastructure of a 10.2 mile, 4-inch, natural gas line that flows directly into the MichCon natural gas main transmission line (MichCon is the state of Michigan's power utility).
The Braveheart Project is located in a prolific natural gas-producing formation in East Texas and stretching into Louisiana.
The current calculated gas in place (GIP) is projected at 500 BCF (billion cubic feet) for the Braveheart Reef. The Project Braveheart well is anticipated to be 500 BCF GIP (P50) with expected production of 30-35 MMCFPD (million cubic feet per day) based on 40 acre spacing.
Newly updated geophysical data has proven invaluable at accurately determining the natural gas reservoir shape and size.
This pinnacle reef is westward, near the fault lines (natural trapping mechanisms for the natural gas) which will enable effective and efficient natural gas extraction.
Black Bear Energy Resources focuses on current and near-term development projects.
This allows the company to optimize operating expenditures due to the shallow depth of the oil-bearing shale without complex completions.
We value and utilize best-in-class local, regional expertise, and international service providers on a project by project basis.
At Black Bear Energy Resources, we are very discriminating about the assets we acquire.
This distinct approach mitigates risks involved with longer-term, speculative assets that do not fit our cash-flow-orientated business model.
The company utilizes leading-edge, state-of-the-art technology, rapid response times, and a forward-thinking management team with a profitable track record in proven, reserve-rich assets.
In a shallow regional shale with a defined development plan, our short-cycle production is a compelling investment.
Black Bear Energy Resources is committed to streamlined operations, efficient delivery to market, and cost-conscious capital management.
Our portfolio combines the many critical elements that make shallow shale an extremely compelling return on investment.
We are proven, responsive, cohesive, and profit-driven.