Tuesday, August 10, 2010

San Augustine County, TX: Bossier Shale Update

Crimson Exploration Inc. (CXPO) released an update on the Bossier Shale located in San Augustine County, TX:

Crimson is currently finalizing the completion of the Grizzly well (55% WI) in its Bruin Prospect Area in San Augustine County, Texas. The Grizzly is the first Crimson-operated well in the Bruin Prospect and has a surface location approximately 2.5 miles south of the Kardell (52% WI) well drilled in 2009. The Grizzly was drilled to a total measured depth of 18,100 feet, which includes a lateral of approximately 4,200 feet in the Mid Bossier Shale. The well was completed with 14 frac stages. Crimson was able to drill and case the Grizzly in 60 days, an improvement of 30 days compared to the Kardell. Flowback operations have commenced, and consistent with our strategy to maximize the ultimate recovery, we are methodically increasing the choke size, and monitoring pressure and rate at each step. We are very encouraged with the pressure and rate response and expect to have the well tested and flowing at a sustained rate in approximately two weeks, at which time the results will be reported. Production during the testing phase is being flowed into the sales line.

The Gobi (73% WI), the Company's second operated well in the Bruin Prospect Area, has reached a total vertical depth of approximately 13,900 feet in the pilot hole with drilling of the 4,500 foot lateral in the Mid-Bossier Shale expected to commence soon. Gobi is located approximately 2 miles northwest of the Grizzly. Initial completion of the Gobi is scheduled to begin in October, with results expected to be announced in November.

For more shale updates, visit: http://blackberrystocks.blogspot.com

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