Cubic currently has eight wells in its Bethany Longstreet acreage. Seven wells are producing 4,664 Mcf/day at approximately 80% of capability, with additional zones in two wells at final stages of completion. In addition, the Estes 8 No. 1 is currently in its completion phase and is not contributing to current field production. The seven producing wells have increased the Company's daily production in its Bethany Longstreet acreage by 2620% since May 2007. Cubic has a 25% working interest in the seven producing wells, and a 35% working interest in the Estes 8 No. 1.
Cubic Energy, Inc. is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. The Company's oil and gas assets and activity are concentrated primarily in Texas and Louisiana.
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