[Editor's note: A version of this story appears in the June 2018 edition of Oil and Gas Investor. Subscribe to the magazine here.]
Is it time for Austin Chalk 3.0?
Large E&Ps have amassed nearly 600,000 acres in the Louisiana Austin Chalk extension over the last six months where ConocoPhillips Co. (NYSE: COP) and Marathon Oil Corp. (NYSE: MRO) are readying permits to start appraisal drilling in late 2018.
They are joining EOG Resources Inc. (NYSE: EOG), whose Eagles Ranch 14-1H Avoyelles Parish well sparked interest in the Louisiana Chalk in September 2017.