Galloway Acquires West Texas Gas Production Well
Galloway Energy advised that the West Texas Project gas well announced as part of the Company's acquisition program is a producing, commercially viable well.
The gas well was drilled, cased, completed and stimulated during the past month. Subsequent to the completion of a tie-in to the pipeline infrastructure, the well has been producing gas since late May of 2009 at daily rates of 200 MCF per day.
The operator has estimated that the gas reserves associated with this well are approximately 0.5 BCF. This initial well is the first of 20 wells that are planned to be drilled and completed on the leased acreage. Further details will be announced to stakeholders regarding the timing of the on-going development plan at the West Texas Project as information becomes available.