Sun River Completes 1st Haynesville Shale Well (4/5/11)

Sun River Energy, Inc. Announces Completion of Carthage Field Haynesville Well
Dallas, TX -- (PRNewswire-FirstCall) – April 5, 2011 --Sun River Energy, Inc. (OTC:BB:SNRV). Sun River Energy, Inc. (the “Company” or “Sun River”) announces it turned the Neal Heirs # 1 well to production on March 31, 2011.

The Neal Heirs # 1 well (API # 42-365-37706) is drilled vertically to a total depth of 11,057 feet in Panola County, Texas. The well is completed in the Haynesville Shale geological formation at 10,214’ to 10,716’.  The well is located within the prolific Carthage Field. The well initially shut-in at 5,386 PSI tubing pressure after fracture treatment.  Presently, the well is producing both natural gas and crude. The well is flowing at 2,256 MCF a day with a constant flowing tubing pressure of 3,320 PSI.

Sun River Operating, Inc. operates the well. Sun River Energy, Inc. owns a 77.5% working interest in the well. 

Donal R. Schmidt, Jr., the Company's CEO and President, states:

                “It is always a relief to have your first well in a project come on like the Neal Heirs #1. The well exceeded our team’s initial expectation in every way. We are presently preparing to drill two more wells in adjoining gas units and expect similar results. The Neal Heirs #1 confirms my belief that our team has what it takes to consistently develop deep unconventional gas at an attractive cost. Our preliminary estimate is that the net finding and development cost per MCFE of proved gas in this well will be around $1.24. This will place us at the top of low cost producers in our sector of the natural gas market.”

 

http://www.sunriverenergy.com/PressReleases.aspx?id=107

 

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Permalink Reply by Les Bamburg on April 7, 2011 at 3:02
Note this is a good flow rate for a vertical well.  The operator mentions "the well is producing both natural gas and crude".  This may be similar to some wells in northern edge of the play in Louisiana that produced small amounts of condensate/oil from the shallower areas of the Haynesville Shale.   
Permalink Reply by jffree1 on April 7, 2011 at 5:32
Les, do you think they are getting oil out of the HA or do you suppose they completed more than one interval?
Permalink Reply by Les Bamburg on April 7, 2011 at 5:37
Jffree, since it is a vertical completion it is possible they also perforated one of the shallower formations.  I saw this with some of NFR's early vertical shale wells. 
Permalink Reply by Tom Hough on April 7, 2011 at 6:24
Does anyone know if they are drilling at the Summers well site on the south shore of muvaul?
Permalink Reply by jffree1 on April 7, 2011 at 6:37
Tom, are you referring to Sun River?  There is nothing new permitted on the south shore right now.

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