Pilgrim has non producing properties in Archer, Wichita and Wilbarger Counties, Northwest Texas, most of which had been shut-in.
Currently, Pilgrim Petroleum is concentrating its efforts in acquiring more prospects around the area and providing Industry services to small and medium E&P companies.
Oil Resources Estimation
Our (early-stage) estimations to calculate the Potential Oil Reserves underlining our properties in the Bend Arch-Fort Worth Basin Province are based on volumetric calculations. It is worth mentioning that the thickness chosen is required to accurately count net effective reservoir quality (e.g. shale or sand) and it is also used to construct net pay isochore maps for volumetric reserve calculations.
Please refer to: Geologic Documentation by SCA to expand on thickness determination for volumetric calculations and the Bend Arch-Fort Worth Basin Province (045) study by the USGS to obtain further explanation on the characteristics of the Bend Arch-Fort Worth Basin Province and the thickness of oil pay in this area.