Gastar Underscores Initial Production Rate from Recent Well Completion
Gastar has completed the Wildman Trust #5 well in one lower Bossier zone at a restricted gross sales rate of approximately 15 MMcfd
with over 12,000 psi of flowing casing pressure. Gastar successfully drilled the Wildman Trust #5 well, a lower Bossier test, to a total depth of 19,000 feet and has logged approximately 60 net feet of pay in five lower Bossier and one middle Bossier zones. Gastar owns a 66.7% working interest before payout (54.5% net revenue interest before payout) in the Wildman Trust #5.
"The Wildman Trust #5 well is completed in only the deepest lower Bossier zone and the sales rate is being restricted," commented J. Russell Porter, Gastar's President and Chief Executive Officer. "The zone currently completed has tested at over 25 MMcfd and is capable of higher rates. As a result of the high rate capable from this zone, we have decided to delay any further completions on the well and will reserve the deliverability available from the behind pipe zones to be produced when natural gas prices are more attractive.
The Wildman Trust #5 was drilled and completed for approximately $9.5 million."
- Gastar to Buy Back Chesapeake Stake (Apr 01)
- Gastar Pleased with Initial Marcellus Production Rates (Sep 21)
- Gastar Tests Marcellus Wells in West Virginia (Jul 28)