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Credo Petroleum Corp. (CRED) Reports Successful Well in North Dakota

|Includes: Forestar Group Inc. (FOR)

Credo Petroleum Corp. reported the success of a horizontal well drilled in North Dakota. The company said that the well had the highest initial production rate of any well in its history.

The Weisz 11-14#1-H well drilled over the last few months produced at an initial rate of production in excess of 2,000 barrels of oil equivalent (NYSE:BOE) during an initial 24 hour production period. The well targeted the Middle Bakken formation and was completed with a thirty-seven stage hydraulic fracturing operation.

Credo Petroleum Corporation said that the Weisz 11-14#1-H well was the company’s second successful well targeting the Middle Bakken formation in North Dakota. The company’s first well produced 40,000 BOE during the first ninety days of production.

For more information on the company, go to credopetroleum.com

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