Friday, February 24, 2012

Culberson County, TX - Wolfcamp Shale - Oil & Gas

By Tim -

Wolfcamp Shale Update - Cimarex Energy (XEC)

Cimarex Energy (XEC) provides an update on drilling for oil in the Wolfcamp Shale located in Culberson County, TX

In the fourth-quarter, four horizontal Wolfcamp wells were brought on production in southern Eddy County New Mexico (White City) and northern Culberson County Texas. The wells brought on in the fourth-quarter had first-30 day production rates averaging 6.8 MMcfe/d, comprised of 38% gas, 31% oil and 31% NGL. On average these wells have the highest oil contribution of the wells drilled to date in the Wolfcamp. For 2011 Cimarex drilled and completed 11 gross (10 net) horizontal Wolfcamp wells, bringing total wells in the play to 18 gross (16.8 net). First 30-day production from all the wells has averaged over 6.5 MMcfe/d, comprised of 44% gas, 24% oil and 32% NGL.