Was just doing some research on the Buda formation and came across this picture.
This picture is a snapshot of production from the Buda in Zavala county which is adjacent to Maverick County.
Furthermore, several Buda wells have achieved 100% return on capital in a matter of weeks. An average Buda well costs about $2.5 million to drill and complete which is significantly lower than the $6-7 million required to drill and complete an Eagle Ford well.
You don't need to be a mathematician to see the potentially astronomical rates of return if we can prove commercially viable 300,000+ EUR wells.
SXA Price at posting:
33.0¢ Sentiment: LT Buy Disclosure: Held