Terax Energy Spuds Fourth Barnett Shale Well

Terax Energy spud its fourth well, in Erath County, Texas, targeting the Barnett Shale Formation gas play and expanding the company's drilling operations in the Fort Worth Basin.

The Mitchell #4-H horizontal well is the fourth of five wells Terax plans to drill, under the existing drilling agreement, on its approximately 11,300-acre block in Erath County. Terax has the option to extend the drilling agreement to additional wells, as noted in the company's Oct. 5 press release.

Terax expects to drill the Mitchell #4-H horizontal well to a total measured depth of approximately 7,000 feet. The Mitchell #4-H horizontal well is approximately one-half mile from the Mitchell #3-H horizontal well.

Terax expects to finalize construction of the first leg of its gathering system for the Erath project by the end of February and will tie into the Louis Dreyfus pipeline. Shortly thereafter, the company plans to complete the Mitchell #1-H and #2-H wells. Once the second leg of the gathering system has been completed, Terax will move forward with completing the Mitchell #3-H and #4-H wells, expected by the end of March.

"We continue to aggressively delineate and develop our Barnett Shale acreage," said Lawrence Finn, Terax chief executive officer and chief financial officer. "We have made significant progress on our gathering system construction and are well positioned to frac our first two wells in the near term."