Great Basin Chainman Shale Resource Play
(Bissell Acreage is shown in yellow)
Bissell will sell 184,610.48 acres of undeveloped B.L.M. Oil and Gas leases (including operations) in a negotiated sale. Expiration of all tracts is January 2022.
Primary objectives are the Mississippian Chainman Shale formation and the Devonian Pilot Shale formation. These are known source rocks with world class reserve potential. Third-party source rock analyses indicate the Chainman and Pilot formations to be in the prime oil generating window. Multiple Tertiary and Paleozoic conventional reservoirs are prospective, as seen in Railroad Valley (CUM: +45,000,000 barrels of oil). Railroad Valley is the adjacent valley less than 15 miles east.
An immediate offset well, Major Oil - Eblana No. 1, tested oil and gas in multiple Tertiary fractured volcanic reservoirs. The well produced non-commercial volumes of high gravity oil. According to a third party reserve report, the well is positioned in the oil/water transition of the Tertiary reservoirs. The reservoirs have a potential of over 19,000,000 barrels of oil. The May 2013 report indicates reserve potential to the east of their acreage, which is held by Bissell. Major Oil plans to drill an up-dip, confirmation well.
See the "Geology & Maps" tab for more details.