Monday, May 11, 2009

GMX: Two New Wells

GMX resources announced announced the completion of a couple of Haynesville Shale wells.

GMX completed "the Verhalen 'A' 2H Haynesville/Bossier horizontal well having a 4,198 foot lateral and 14 fracture treatment stages and an initial 24 hour production ('IP') rate of 8.5 million cubic feet per day ('MMcfd') of gas, on a 14/64 choke and 4,164 pounds of flowing casing pressure ('FCP') into the sales line. The first five Haynesville/Bossier wells have an average IP of greater than 8.3 MMcfd.

"In addition to the first five wells, the Company has drilled Blocker Ware 19H with a 4,446 foot lateral and has completed 9 of 12 fracture treatments, thus far. The Company has also successfully drilled and set casing on the Blocker Heirs 12H with a 4,934 foot lateral and TJT Simpson 1H with a 4,606 foot lateral. Scheduled completion for each of these two H/B Hz wells will follow the Blocker Ware 19H with 12 fracture treatment stages planned for each well. These wells are all expected to begin producing in Q2 2009."

More to come on GMX later this week.

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