Tuscaloosa Shale said to be ‘producing very solid returns’

The Tuscaloosa Shale—a 2.7 million-acre stretch of land extending from central Louisiana to southwestern Mississippi that’s believed to hold billions of barrels of oil—is being targeted by “several major oil and gas companies” and “producing very solid returns,” says Lighthouse Petroleum Inc., which recently began drilling in St. Helena Parish. Lighthouse says the 12,000-foot Lucy Lee well drilled in late February should begin producing revenue by the end of March, and is expected to produce as much as 200-400 barrels of fluid per day, 20% of which is anticipated to be oil. “Recent Google searches done by management of oil and gas projects in the surrounding area indicated two key findings: 1) that a similar well in the area has produced 290 barrels of oil (a day) and some gas, and 2) major oil and gas companies are investing and requesting exploration permits in the areas of Louisiana and Mississippi targeting the Tuscaloosa Marine Shale,” reads a release from the company announcing the purchase of a second land lease in the area and the inspection of a third. Lighthouse bills itself as being in the “initial development stages as a junior oil and gas company,” with a focus on abandoned wells and speculative land leases. More details on Lighthouse’s drilling activities in St. Helena Parish and photos are available on the company’s website here. You can also check out a Business Report cover story from late November on the buzz surrounding the Tuscaloosa Shale’s economic potential here.