Wednesday, January 28, 2009

Barnett Shale - Tarrant Denton County Texas

Today, 1/28/09, Carrizo Oil & Gas provided an update on the Barnett Shale natural gas field located in Tarrant County, TX and Denton County Texas.

Since January 1st, 2009 the company has brought eleven new Barnett Shale horizontal natural gas wells on production. The combined daily production from these wells amounts to slightly over 31.5 MMcfe/day gross or 22 MMcfe/day net to Carrizo. President and CEO S. P. "Chip" Johnson, commented, "The initial production rates from these wells meet our expectations for core Barnett locations although right of way and permitting complications delayed them from coming on-stream in December as originally anticipated. Included in these new wells is our first 'stagger stacked' lateral well which was drilled on the Cain lease in southeast Tarrant County. This well tests the concept of placing two layers of horizontal wells in thicker parts of the shale. The well came on production and is performing as well as the other five wells on the lease, providing us encouraging early data to use in optimizing our future Barnett exploitation program. We currently have four rigs drilling in the core of the Barnett, three in southeast Tarrant County and one in Denton County."

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