Davis Holbrook is an oilfield property in Pickaway County, Ohio and the formation is the Cambrian Knox. Marksmen used 3D seismic to delineate the properties and pin-point the optimal drilling locations. Marksmen, as operator with a 75% working interest, drilled the Davis Holbrook #1 (DH1) location in July of 2016 and it has produced over 50,000 barrels of light Pennsylvania crude oil and continues to be a good producer. This well had an initial production rate of over 80 barrels per day and is the best producing well in Pickaway County in recent memory.
The Davis Holbrook field has over five top prospect drilling locations but contractually Marksmen was unable to drill additional locations until recently. In August of 2021 DH2 was drilled, again with Marksmen as operator and a 75% working interest. With a similar initial production rate to DH1, this well is also a prolific oil producer. In February of 2022 Marksmen entered into a contract with its partner to drill DH3, DH4 and DH5 this year. The locations are being surveyed and permits will be obtained and drilling of the first back-to-back wells should take place in April, 2022.
This significant oil field, in which in which we plan to drill a total of up to 8 wells, is immediately east of 2 Cambrian Knox Remnants that each produced greater than 500,000 barrels of oil.