As of January 2012, PVA had over 21,000 net acres in the volatile oil window of the Eagle Ford Shale play in Gonzales and Lavaca Counties, Texas.
We entered this play in August 2010 and have built an estimated inventory of up to approximately 180 well locations. We operate our acreage in this play and have an approximate 83% working interest in Gonzales County and at least a 50% working interest in our recently added 13,000 acre AMI (area of mutual interest) in Lavaca County. We believe the reserves and production on our acreage will average 80-90% oil and NGLs, with natural gas comprising approximately 10-15%, post processing.
As of January 2012, we have three drilling rigs operating in the play and are actively pursuing opportunities to expand our position. We also believe that we have potential upside in the Austin Chalk.