GMXR Announces Result of Haynesville/Bossier Horizontal Well (4/19/10)

GMX Resources announced the test results for their latest Haynesville Shale well in Harrison County.  This well is a good indicator of how operators are continuing to improve their results in the northern portion of the play.

 

OKLAHOMA CITY, Apr 19, 2010 (GlobeNewswire via COMTEX News Network) -- GMX Resources Inc. (NYSE:GMXR) (visit www.gmxresources.com to view the most recent Company presentation and for more information on the Company) today announced the completion of the Blocker Heirs #20H Haynesville/Bossier ("H/B") horizontal well ("Hz") with a 14.4 million cubic feet of gas per day ("MMCF/D") initial production ("IP") rate. The well was drilled with a 4,450 foot lateral and stimulated with 11 frac stages. The well test was over 24 hours on a 20/64 choke with 5,890 pounds of Flowing Casing Pressure ("FCP") into a sales line with 975 pounds per square inch ("PSI") of Line Pressure ("LP"). The IP rate of the Blocker Heirs #20H is slightly higher than the reported IP of the Mia Austin #1H which had an IP rate of 14.1 MMCF/D on a 20/64 choke with 5,492 pounds of FCP. However, the Blocker Heirs #20H was completed with 11 frac stages while the Mia Austin #1H was completed with 12 frac stages. The 5 1/2" casing design facilitates the ability to reduce the number of stages and increase the number of perforations, thereby producing greater contact with the reservoir rock and increased transmissibility as evidenced by the higher FCP. The Company expects 30 day production rates and long term performance to be enhanced by the 5 1/2" casing design.

 

http://ir.gmxresources.com/releasedetail.cfm?ReleaseID=461001

 

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