Crimson Exploration Inc. (CXPO) Reports on Oil and Gas Activity
Crimson Exploration Inc. issued an operational update on the company’s oil and gas activities during the first quarter of 2011. The company is active in various basins in Texas and Colorado.
Crimson Exploration reported the completion of two horizontal wells on its properties in San Augustine County, Texas. Both wells were located in the Bruin Prospect area, where the company has approximately 18,000 gross acres under lease.
Crimson Exploration said that the first well was drilled to a total measured depth of approximately 18,300 feet and targeted the Bossier Shale formation. The well is producing at a rate of 8.9 million cubic feet of natural gas equivalents per day.
The second well was drilled to a total measured depth of approximately 18,500 feet and targeted the Haynesville Shale formation. The well is producing at a rate of 8.3 million cubic feet of natural gas equivalents per day.
In Zavala County, Texas, Crimson Exploration is currently drilling a well into the Eagle Ford Shale and expects to reach total depth of 12,500 feet shortly. The company has approximately 5,500 acres under lease in this area and believes that its properties can accommodate 147 drilling locations.
For more information on the company, go to crimsonexploration.com
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