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  • American Standard Energy Corp. (ASEN) Issues Oil and Gas Operational Update 0 comments
    Oct 3, 2011 10:20 AM | about stocks: ASEN
    American Standard Energy issued an operational update on the company’s oil and gas activities in the United States. The company is active in various producing basins in North Dakota and Texas.

    American Standard Energy recently initiated a twenty six well drilling program in the Permian Basin in Texas. The company is operating three rigs here and is targeting the Wolfberry and Wolfcamp formations in three different counties.

    American Standard Energy is waiting for the initial production rates of two wells that were recently completed and has five additional wells scheduled for hydraulic fracturing operations. The company is also attempting to secure additional fracturing capacity to accelerate its development program in the Permian basin.

    American Standard Energy is also developing the Eagle Ford Shale formation in Texas and has been involved with 13 gross wells in 2011. In the Williston Basin in North Dakota, American Standard Energy is working on the Bakken and Three Forks formation and has been involved with 78 gross wells in 2011.

    The company expects production to exit 2011 at a rate of 2,000 barrels of oil equivalent (NYSE:BOE) per day. In the second quarter of 2011, production averaged 558 BOE per day.

    Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net
    Stocks: ASEN
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