XTO Energy Reports Production Rates at Three Forks/Sanish Well
XTO Energy announced production results from wells drilled in multiple regions on its newly acquired property base.
In the Bakken Shale play of North Dakota, the Company has now completed 5 wells with average production rates of 673 barrels of oil equivalent per day, primarily producing from the Middle Bakken shale section.
In addition, a Three Forks/Sanish discovery well, the DeAngelis 41x-21, has been completed at an initial production rate of 1,750 barrels of oil equivalent, at a flowing tubing pressure of 2,200 pounds. XTO currently operates four drilling rigs in this prolific oil basin and owns a leasehold position with over 450,000 acres.
In the Fayetteville Shale, where XTO has expanded its leasehold to 380,000 acres, the Company has recently drilled and completed 5 wells, with 4,000 feet lateral sections, at an average daily rate of 2.5 MMcf.
In the Woodford Shale region, on newly acquired acreage, the Churchill 1-26 well is completed and producing 4.3 MMcf per day.
In the Farrar/Bear Grass Field of the Freestone Trend, the Beddingfield 6H, a horizontal Cotton Valley lime well, was recently completed at 8 MMcf per day. This well offsets producing leases, totaling about 5,500 acres, acquired in the Hunt Petroleum transaction where drilling activity will commence in early 2009.
Also, XTO has spudded its first two horizontal Haynesville Shale wells on acquired leasehold in its Eastern Region. Finally, in its offshore producing region of the Gulf Coast, XTO has completed and tested the Main Pass 125-2 well, one of several identified development prospects, at an initial daily rate of 17 MMcf and 500 barrels of oil.
"Our team in the field has immediately engaged drilling and workover activities, across the board, that demonstrate the performance of our expanded property base," stated Keith A. Hutton, President. "With our acquisitions this year has come strong production with visible growth opportunities."
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