Gastar Exploration reports Mid-Con 7H well peak rate of 906 barrels per day Gastar Exploration announced that the Mid-Con 7H well in its Hunton Limestone oil play in Oklahoma reached a peak 24-hour gross initial production rate of 906 barrels of oil equivalent per day and subsequently averaged 782 BOE per day over the following 17 days. The Mid-Con 7H well is flowing these rates naturally through 4.5-inch production casing as compared to the previously announced wells which were flowing through production tubing with the assistance of gas-lift. The well was completed in the Hunton Limestone formation utilizing a 19-stage fracture stimulation over the well's lateral length of 4,250 feet. Gastar has a 48% working interest in this non-operated horizontal well drilled within an area of mutual interest ("AMI") in Kingfisher County, Oklahoma. The company said "The Mid-Con 7H well has continued to flow up the production casing and has yet to cease production so it can be placed on gas-lift. At an estimated drilling and completion cost of $5M the Mid-Con 7H well should generate a substantial internal rate of return at current NYMEX forward strip pricing."
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