Forest Oil Announces Results of the Third and Fourth Operated Horizontal Texas Panhandle Granite Wash Wells Each with a Production Rate of 37 MMcfe/d Jan 14, 2010 8:00:00 AM Copyright Business Wire 2010 Email Story Discuss on ZenoBank
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DENVER--(BUSINESS WIRE)-- Forest Oil Corporation (NYSE: FST) (Forest or the Company) today announced results from its third and fourth operated horizontal Texas Panhandle Granite Wash wells. In December of 2009, the third operated horizontal well produced at a 24-hour production rate of 15.1 MMcf/d, 1,200 Bbls/d of oil and condensate and 2,400 Bbls/d of natural gas liquids, for an equivalent rate of 37 MMcfe/d. In January of 2010, the fourth operated horizontal well produced at a 24-hour production rate of 16.0 MMcf/d, 1,300 Bbls/d of oil and condensate and 2,200 Bbls/d of natural gas liquids, for an equivalent rate of 37 MMcfe/d. These wells were drilled and completed with horizontal legs of approximately 4,200 feet and nine to ten stages of fracture stimulation for an average total well cost of approximately $6.8 million.
As is detailed in the table below, 24-hour production rates have improved in the most recent wells as Forest has been drilling longer laterals and adding fracture stages.
Forest Exploration International (SA) (Pty) Ltd. Suite 1B, Nautica, The Waterclub, Beach Road, Granger Bay, 8005, Cape Town, South Africa 27 (21) 401-4140