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Ona Morrow, Texas County, Oklahoma - One development well was drilled and is currently being readied for production.
today announced the successful completion and testing of its Louisiana Furs C-17 well -- the first of several planned development wells in the Fresh Water Bayou Field in Vermilion Parish, Louisiana.
The company completed and placed in production one development well drilled in the fourth quarter of 2005.
The additional funds will be used to increase the number of new development wells to be drilled on this property in 2008 from 222 to 257 and increase the number of re-fracs of existing wells from 40 to 50.
3 million in our original budget to drill three exploration wells with an average working interest of 67%, one development well with a working interest of 88% and for other development activities.
Hanes, Cimarron County, Oklahoma - The Company continued infrastructure improvements to the injection water supply system in the first quarter of 2008 and plans to drill one development well, convert one existing well to a water injector, and continue to upgrade infrastructure in the second and third quarters of 2008.
8 million of our capital expenditures in our revised 2005 budget allocated to our West Texas province will be spent to drill two exploration wells with an average working interest of 100%, to drill one development well with an average working interest of 50% and for other development activities.
In 2008, the Company plans to drill one additional development well, convert one existing well to a water injector, and upgrade infrastructure.
The Company drilled 180 gross wells during 2003, including 162 development wells with 161 successes, and 18 exploratory wells with five successes, three unsuccessful wells and 10 coalbed methane (CBM) wells in Kansas still under evaluation.
Fourth quarter activity will include drilling one development well, installing injection equipment, and upgrading the tank battery and treating facilities.
Hanes, Cimarron County, Oklahoma - The Company completed one development well drilled in the fourth quarter of 2006.
These 20 wells consist of 18 low-risk, well-defined development wells and two higher-risk, higher-potential exploratory projects.
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