Tuesday, June 16, 2009

GMX: New Haynesville Results

Today, GMX Resources, which I lovingly refer to as a "Suicide Haynesville Play" because of its high Haynesville acreage concentration, announced results from two new wells from its Texas properties:
  • Blocker Ware 19H: initial production (IP) rate of 8.9 Mmcf/day; 4,446 foot lateral with 12 fracture treatment stages; 22/64 choke and 4,470 pounds of flowing casing pressure ("FCP") into the sales line.
  • Blocker Heirs 12H: IP rate of 9.4 Mmcf/day; 4,934 foot lateral and 14 fracture treatment stages; 23/64 choke and 5,344 pounds of FCP into the sales line.
GMX is still working on the following two wells:
  • TJT Simpson 1H: 4,606 foot lateral, scheduled for fracture treatment in late June 2009.
  • K 5H: Currently drilling, expected completion in July 2009.
The last five Haynesville horizontal wells the Company has completed have an average IP rate greater than 8.9 MMcfd, and the first three Haynesville wells with lateral lines greater than 4,000 feet have collectively averaged more than 5.8 MMcfd in the first 30-day period.

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