History of Plantation Petroleum Companies
Plantation Petroleum Holdings IV, LLC (2007-present)
Plantation Petroleum Holdings IV, LLC (PPH IV) was chartered in November 2007, with equity provided by Plantation Petroleum Ventures IV, LLC, EnCap Investments, LP and Liberty Energy Holdings, LLC.
The initial acquisition for PPH IV was a set of non-producing properties in Southeast New Mexico from PPH III. By the end of the first quarter of 2008, PPH IV amassed a total of 26,000 surface acres of leasehold lands and a significant portfolio of 3-D seismic and drilling locations. The preponderance of acreage was acquired from Anadarko Petroleum on October 31, 2007. The land play consisted of 17,000 gross acres and one (1) active well located in Bienville Parish, Louisiana.
Subsequently, PPHIV has re-completed the purchased well and now drilled six (6) new wells. An independent engineering firm, Vaughn Horizon, was engaged to study the potential of horizontal drilling in the Cotton Valley, and their assessment indicated that horizontal drilling should be done. The results are estimated to be similar to that of the prolific Haynesville Shale Play, currently being exploited in North Louisiana.
PPHIV closed on the acquisition of a significant producing asset base located on the Eastern Shelf of the Permian Basin in May, 2009. This acquisition added 200+ active well bores and 1,100 BOE/D of production with 44,000+ acres. The potential for upside rate increase is dramatic.
PPH IV is more diversified than any of the previous PPH entities and operates in three core areas: Southeast New Mexico, the Texas Permian Basin, and North Louisiana, with additional land positions in the Texas panhandle. Plans for the future include expansion of our “footprint” in each of the three core areas.