Terrace Energy Corp. is an oil & gas exploration and production company focused on onshore, US oil drilling opportunities.
Our activities are currently focused on the prolific South Texas Cretaceous plays including the Olmos Tight Sandstone, Buda Limestone and the Eagle Ford and Pearsall Shale plays. Our major project is the Olmos Tight Sandstone Development Project which has 19 wells on production from the Olmos Sandstone, 3 wells drilling or awaiting completion and an additional 101 identified locations. Our Maverick County Project is in exploration mode with three Eagle Ford Shale producers and five additional evaluation wells drilled. All of our projects contain multiple, repeatable drilling locations as well as additional target horizons slated for future evaluation.
South Texas Cretaceous Play
The Upper Cretaceous sequence in the Rio Grande Embayment of South Texas has been a prolific oil and gas producing region with nearly 500 million barrels of oil and over 2 trillion cubic feet of gas produced to date. The area is part of the Smackover-Austin-Eagle Ford Composite Total Petroleum System as defined by the US Geological Survey. The potentially productive intervals, from youngest to oldest, include the Escondido and Olmos formations of the Navarro Group, the San Miguel and Anacacho formations of the Taylor Group, as well as the Austin Chalk, Eagle Ford Shale, Buda and Edwards Limestones. Oil and gas were generated in the total petroleum system at different times because of variations in depth of burial, geothermal gradient, lithology, and organic matter composition. From the source rocks, oil and gas migrated upsection and updip along a pervasive system of faults and fractures as well as along bedding planes and within sandstone units.
Recent technological advances in drilling and completion techniques, notably advances in horizontal drilling and hydraulic fracturing technology, have created a renaissance within the region as previously uneconomic reserves are being commercially developed by use of new technology.
For more information on the regional geology and recent developments in the South Texas Cretaceous Plays, please visit our links page.