Eighteen miles to the south in Ellis County, the Freeman #1-32 well is the third well drilled on the company's 1,280 gross acre Gage Prospect. The 9,125-foot well encountered 25 feet of Morrow sand which electric logs indicate is gas productive. It is currently awaiting completion for production, including fracture stimulation and pipeline connection. The well is located about one mile northeast of the company's recent Skyler and Connor wells. CREDO owns a 30% working interest in the Freeman and 50% in both the Skyler and Connor wells.
James T. Huffman, President, said: "We continue to be pleased with the results from our Northern Anadarko Basin drilling program. Our Anadarko Shelf acreage inventory consists of approximately 40,000 gross acres located primarily in Harper, Ellis and Woodward Counties. Over 50 wells have been drilled on the Sand Creek and Two Springs Prospects with a 70% success rate. We expect significant additional drilling on the acreage."
Huffman further stated: "As previously reported, the company recently committed to drilling projects in South Texas and along the Central Kansas Uplift which are driven by 3-D seismic. In combination with our core drilling in the Anadarko Basin, these projects are expected to significantly expand both the volume and breadth of CREDO's drilling."
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