Southeast Texas (Woodbine)
As of December 31, 2016, our Southeast Texas region included approximately 33,200 gross (20,000 net) acres, proven reserves of 25.6 Bcfe, and 78 gross (45.2 net) producing wells. While we had success in this area in 2014 and 2015, no drilling capital was allocated to this area in 2016 due to the low commodity price environment. For 2017, our current budget does not anticipate further drilling in this area, but should we experience sustained improvement in commodity prices, we could increase our activity. We currently have approximately 13,700 net acres in Madison and Grimes counties, with a multi-year inventory of potential drilling locations encompassing the Woodbine, Eagle Ford Shale and/or Georgetown/Buda formations.