Monday, August 9, 2010

New Albany Shale in Indiana: Atlas Energy Inc.(ATLS)

By Andrea:

Rich Weber, president and COO of Atlas Energy Inc. (ATLS) reports that they are funding at $150 million program to support the New Albany Shale:

"...we have begun marketing our $150 million spring program and expect to break escrow in the next few weeks. This program will primarily fund development in the New Albany Shale where we continue to achieve results that are consistent with the expectation of average initial daily production of 300,000 cubic feet per horizontal well. Drilling and completion costs continue to average approximately $800,000 per well and we have plans to drill at least 100 wells this year for our programs."

For more shale updates, visit:

Fore more stock updates, visit: