HOUSTON, Apr 12, 2010 (BUSINESS WIRE) -- Crimson Exploration Inc. (NasdaqGM: CXPO) today has provided an update on its 2010 drilling schedule.
East Texas - Haynesville Shale
Crimson recently commenced the drilling of its Grizzly #1 horizontal well targeting the Haynesville Shale formation and is currently drilling below 3,000 feet toward an 18,600 foot total depth. The Company anticipates an approximate 4500'foot lateral, with 14 stages of frac, in the Haynesville or Mid-Bossier Shale. The drilling of the pilot hole and the lateral is expected to be completed by July 1, 2010 with fracing/completion to follow. Crimson owns an approximate 55% working interest in this San Augustine County well that is approximately 2.5 miles to the south of the Kardell #1H well, our first Haynesville Shale well in East Texas. We have a rig currently under contract that positions us to pursue a continuous drilling program in this resource play for the remainder of this year and into next year. After the completion of the Grizzly well, this rig will move to one of three locations that are currently being prepared; i.e. Kodiak, located approximately 2.5 miles SSE of the Kardell #1H, Gobi, located approximately 2.5 miles SW of the Kardell #1H or Bengal, located in the Tiger Prospect Area approximately 10 miles SE of the Kardell #1H. Grizzly, Kodiak, and Gobi are located in the Bruin prospect area, where we anticipate drilling 2 to 3 operated wells during 2010.
Preparations have been completed for the drilling of the first Haynesville Shale well in our Fairway Farms prospect area, also in San Augustine County, approximately 3.5 miles to the southeast of the Kardell #1H, and that well is scheduled to spud in mid-May. We will own an approximate 30% non-operated working interest in the initial well in the Fairway Farms prospect area. We anticipate that two wells will be drilled in the Fairway Farms area during 2010.
In our Tiger and Tebo prospect areas, located six miles southeast of the Fairway Farms area, land work and drilling logistics are being finalized. We will likely contract for a second rig to move between Tiger, Tebo, and the Bruin areas during 2010 and 2011. The initial wells in Tiger and Tebo will likely spud in the third and fourth quarters, respectively. We will own an approximate 50% working interest in these prospect areas and will be the operator.
Recently announced successes by Cabot, Common Resources, and EOG Resources as well as continued activity by XTO, Devon, Encana, Forest Oil and others, continues to enhance the overall potential in this area in the Haynesville, Mid-Bossier, James Lime, and Pettet Lime formations.
