Thursday, March 19, 2009

Third Well from Exco

In its monthly investor presentation, Exco Resources gave an update on its two existing wells and its new third well, Sammo 18 #5. Exco has got some good wells. The following results are as of March 9, 2009:


Oden 30 H #6 - IP’d 22.9 Mmcfd on 12/8/08
Cumulative gas = 1,385 Mmcf (gross), 1,041 Mmcf (net)
Average gas rate = 14.5 Mmcf/d (95.6 days)
Last 24 hrs = 11.4 Mmcf/d (20/64ths choke)


Lattin 24 #4 – IP’d at 24.2 Mmcfd on 2/15/09
Cumulative gas = 505 Mmcf (gross), 378 Mmcf (net)
Average gas rate = 17.5 Mmcf/d (28.8 days)
Last 24 hrs = 14.1 Mmcf/d (20/64ths choke)


Sammo 18 #5 – IP’d at 21.4 Mmcf/d on 3/3/09
Cumulative gas = 148 Mmcf (gross), 113 Mmcf (net)
Average gas rate = 15.5 Mmcf/d (9.5 days)
Last 24 hrs = 16.1 Mmcf/d (22/64ths choke)

Exco has leases on 92,000 acres in the Haynesville Shale with an estimated potential of 4.5 Tcfe. The company currently has six rigs running in the play (4 operated, 2 non-operated) and intends to add another 2-3 rigs by mid-year. Exco currently has three non-operated wells in completion phase and plans to drill a total of 34 horizontal wells this year.


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