Tradestar Acquires Barnett Shale Gas Wells

Barnett Shale Play
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Tradestar has acquired two producing gas wells. The Parker County, Texas wells, Parks #2 and #3, are currently producing approximately 50,000 cubic feet of natural gas per day. However, Tradestar expects to increase the production to approximately 200,000 cubic feet per day after recompleting the two wells. Estimated reserves for the two wells are in excess of 100 million cubic feet of natural gas.

The acquisition continues the company's strategic positioning in the Barnett Shale area of North Central Texas. Of the property, Tradestar CEO Tom Feimster stated, "We have two vertical Barnett Shale locations on this lease with estimated reserves of between 500 million and 1 billion cubic feet of natural gas at a depth of 7,000 feet, with daily production estimated to top 1 million cubic feet per day. Those numbers only serve to reinforce our strategy with regard to the Barnett Shale." Feimster continued, "Tradestar is and will continue to be a 'no-to-low-risk' player in this market, and this acquisition is a prime example of that mission. Once again, the risk is not 'if' we will see a return on our investment, but rather 'how quickly' we see it."

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