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Permalink Reply by obed w odom on August 1, 2014 at 6:59

Matthew, the one bit of good news that I heard was in answer to the very last question, when SWN said the Benson well in 27-22N-1E, just south of the Sharp well, was producing 600 bbl of oil/condensate per day unstimulated! This sounds very reminiscent of the discovery Weiser-Brown well in 12-22N-1E. Did I understand correctly that SWN is waiting for the results of the 3-D seismic survey before deciding how to proceed further?

Permalink Reply by North LA on August 1, 2014 at 12:37

Thank you. Our next question comes from the Drew Venker with Morgan Stanley.

Drew Venker - Morgan Stanley

Good morning, everyone. I was hoping you could provide more color on the brown dents. It looks like you have lowered capital for the play in 2014. Can you just discuss what drove your decision to lower the capital spend?

Craig Owen - Chief Financial Officer

As we put out in the early part of the year we decided we would adjust the pace of the capital depending on what we were learning. We've had some well results really mixed well results early part of the year. We've just completed a well in -- just recently that produced 600 barrels a day unstimulated. The name of the well is called the Benson well. Its peak production was of 660 barrels of oil and 2 million cubic feet of rich gas. That well we just finished in the quarter and then our plan was to back up and redirect the efforts of the team to our 3D seismic project that would enable us over a 75 square mile area right around where we've been drilling to get a better picture of what we've got tied our wells both successful and unsuccessful to the rock and then proceed later on with further testing. It made a lot of sense to, based on the theories that we are chasing on how to land and where to land these vertical wells to focus on that. So it's not a real change of plan. We've just reallocated the capitol back to the company while we do the 3D. But we're very encouraged by this latest well.