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News Breaks | | | | September 17, 2012 | | 07:34 EDT |  | CXPO | Crimson Exploration says well in Eagle Ford successfully completed
Crimson Exploration announced the KM Ranch #2H well, 50.0% WI, targeting the Eagle Ford Shale formation in Zavala County, Texas, was successfully completed at a gross initial production rate of 511 Boepd, or 457 barrels of oil and 326 mcf of natural gas. Crimson's CEO commented, “Crimson continues to be very pleased with the progress we are making in the Zavala and Dimmit County area of south Texas. We believe the progression of improved results by Crimson and other offset operators has demonstrated that the Eagle Ford is an economically viable play in this part of the trend. Recent higher initial production rate wells drilled by other operators in the eastern portion of Zavala County, and immediately adjacent to Crimson’s leasehold, have been completed with average effective lateral lengths of approximately 7,500 feet. The average length is approximately 40-45% longer than the effective lateral length of the KM Ranch #2H implying, on a normalized basis, our results are in line with recent well results for the area. We believe our current stimulation recipe is consistent with other area operators and our next phase of development in this area will entail drilling lateral lengths greater than 7,000 feet, which our acreage position accommodates.” | |
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News For CXPO From The Last 14 Days Check below for free stories on CXPO the last two weeks. |
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| May 14, 2013 | | 06:55 EDT |  | CXPO | Crimson Exploration downgraded to Hold from Buy at Stifel
Stifel downgraded Crimson due to valuation. | |
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