"Our lives are impacted every day by the use of hydrocarbons such as oil and natural gas. These energy sources heat our homes, fuel our vehicles, and power our factories, offices and schools. They are used to make everyday items like plastics. Fairways is actively pursuing the discovery and development of new frontiers to support our nation's growing demand for energy. High-Impact Exploration is Fairways business."
– Dwayne Stewart, President
Fairways acreage is primarily focused in two basins:
Alabama - Fairways is primarily focused on the Smackover and Norphlet formations as primary and secondary objectives, respectively. Both formations are conventional plays. Fairways has licensed more than 1,000 linear miles of 2D seismic data and has acquired approximately 300 square miles of proprietary 3D seismic data. The CCL&T 17-14 #1 was the first wildcat drilled off of Fairways proprietary 3D and resulted in the discovery of the Clear Creek Field.
Texas - Fairways is exploring the Frio, Vicksburg, and Yegua formations in southeast Texas. All formations are conventional plays. Fairways has licensed, acquired and processed more than 1,000 square miles of 3D seismic data. The Gallo #1A was the first wildcat drilled off of Fairways proprietary 3D and resulted in the discovery of the Gallo Field.
Nebraska - Fairways has a significant leasehold position in the panhandle of Nebraska that is prospective for multiple conventional and unconventional shallow oil targets including the Niobrara Chalk, Dakota D&J Sands, Wykert Sand and Admire Dolomite. The company has acquired 175 sq. miles of proprietary 3D seismic and is actively prospecting in both the Cretaceous and Paleozoic stratigraphic sections. Exploratory drilling is anticipated to commence in early 2014.
Montana - Fairways drilled a stratigraphic test well on its leasehold position in Teton and Pondera counties that yielded encouraging results from a whole core taken in the Bakken/Three Forks formation. An unstimulated, balanced-perforated completion in the vertical test well has yielded a low-rate well producing 100 percent oil. This preliminary result combined with approximately 70 square miles of proprietary 3D has highlighted a horizontal, tight-oil development opportunity.