Westside Sees Success with its Barnett Shale
Westside Energy (AMEX: WHT), an oil and gas company with operations focused on the exploration and development of natural gas in the Barnett Shale play reported that the Primula South #2H well (WHT 50% WI), the Company's third Hill County horizontal well, was successfully completed and tested at a gross initial rate of 2.1 MMCF/D. The well continues to unload completion fluid at a rate of 600 BPD.
The Company.s fourth Hill County well, the Ellison Estate #2H (WHT 50% WI), has been drilled and cased and is waiting on fracture stimulation and pipeline construction. The drilling rig is being moved to the Company.s fifth Hill County location and will soon commence drilling the Ellison Estate #3H well (WHT 50% WI).
Westside.s 2007 drilling activities are primarily focused on joint exploration agreement acreage in Hill County. However, development of certain leases in the North Program area continues through various farmout arrangements in which Westside retains a carried interest. Recent activity is as follows:
Well Name Type Status --------- ---- ---------------------------------------------- Seay #1H Horizontal Unloading frac water; beginning to cut oil. Gray #1H Horizontal Unloading frac water. Elam #2H Horizontal Drilled and cased; waiting on completion.
Douglas G. Manner, Westside.s Chief Executive Officer stated, .We continue to make progress on executing our 2007 drilling plan. The initial rate on the Primula South #2H well is in line with our expectations and we experienced significant execution time improvements in the drilling of the Ellison Estate #2H well. Production rates from the previously reported Primula #1H and Ellison Estate #1H wells are tracking above rates projected in pre-drill estimates. Our North Program farmout activities have allowed us to continue to test and develop this acreage without having to allocate additional capital to this area in 2007.
Dallas-based Westside Energy is an oil and gas company focused on exploiting its significant acreage position in the prolific Barnett Shale trend in North Texas.
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