Odyssey said this morning the joint venture would undertake an initial 10-15 well program, to infill acreage surrounding some of the region’s most prolific producing fields from the original 1950s through 1980s development of the North Bloomington, Willow and Jester-Bloomington field areas.

The drilling campaign is aimed at developing the project’s 68 billion cubic feet of gas reserves in the Brown Dolomite and Granite Wash reservoirs.

Some of these wells are expected to be drilled, completed and tied into existing production infrastructure before Christmas, and selling gas into the North American winter, traditionally a period of peak demand.

Odyssey said it would fund its share of the drilling costs via a $4 million share placement to clients of Tricom Equities, Stripe Capital and Cunningham Securities.

Operator Marion and Odyssey hold 33.3% working interest each in the Jester-Bloomington project.