The Mesa Vista lease consists of a sweeping 57,600 acres located in Roberts County, just south of the Canadian River in the Texas Panhandle. This land was owned by the late T. Boone Pickens, the famous Texan wildcatter, hedge fund founder, and philanthropist known as the “oracle of oil.” Today, the lease is still operated in part by Pickens’ energy hedge fund, BP Capital, in addition to three other operators, including Polaris and CHK.
There are currently 47 producing oil wells on the lease, all targeting the Granite Wash (GW), the region’s primary oil formation. The formation stretches across Western Oklahoma and the Texas Panhandle covering an area of approximately 4,800 square miles, and the estimated ultimate recovery (EUR) of the average Granite Wash well (based on 50 horizontal wells in the Lard Ranch Field) is 219,888 barrels of oil (bo), with the best performing well having produced over 260,000 bo.
