Goodrich announces results of Bates and
Goodrich announces the results of the Amite County Bates 25-24H-1 and the Wilkinson County CMR-Foster Creek 31-22H-1.
"The Company's Bates 25-24H-1 (98% WI) well in Amite County, Mississippi, which was completed with an approximate 4,850 foot lateral and was fracked with 19 stages, achieved a peak 24-hour average production rate of 1,000 barrels of oil equivalent ("BOE") per day, comprised of 938 barrels of oil and 373 Mcf of gas on a 17/64 inch choke.
The Company's CMR/Foster Creek 31-22H-1 (90% WI) well in Wilkinson County, Mississippi, which was completed with an approximate 6,700 foot lateral and was fracked with 24 stages, is in the early stage of flowback, with a current peak 24-hour average production rate to date of approximately 1,140 barrels of oil equivalent ("BOE") per day, comprised of 1,070 barrels of oil and 420 Mcf of gas on a 13/64 inch choke. The Company will provide an update on the well on its third quarter earnings press release."
The Bates well extends the "core" to north central Amite County, especially considering the shortened lateral. The CMR-Foster Creek 31-22H-1 is located near the prolific Crosby 12H-1 well.
Other wells in the process of completion mentioned include the Wilkinson County CMR-Foster Creek 24-13H-1 (6,600 foot lateral), also near to the Crosby 12H-1, Amite County Spears 31-6H-1 (7600 foot), adjacent to the C. H. Lewis 30-19H-1, and the Tangipahoa Parish Verberne 5H-1 (6,800 foot), adjacent to the Blades 33H-1.
Notably the most recently completed well, the Verberne, was drilled in 29 days, making this the 3rd well in a row in the TMS to be completed in less than 30 days. The other two were the Sanchez St. Davis and the Sabine 12H-2.
Goodrich appears to be getting more comfortable and more successful with drilling longer laterals, which, in my opinion, is a key to producing the higher EUR results.
Here's the link on the Goodrich news release..
http://phx.corporate-ir.net/phoenix.zhtml?c=83169&p=irol-newsArticle&ID=1971717&highlight=
