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Cubic Energy releases flow rates of three Haynesville wells

Dallas-based oil and gas company Cubic Energy  (NYSE Amex: QBC) has announced results of three horizontal Haynesville Shale wells in Northwest Louisiana.

The Crow 8 No.1 well had a 24 hour flow rate of 12.91 MMcf with 7,302 lbs. of flowing casing pressure (FCP) while the Crow 5 No. 1 Alt had a 24 hour flow rate of 13.56 MMcf with 7,223 lbs FCP. Both wells were flowed on a 22/64 choke and are located in the Bethany Longstreet Field of Caddo Parish, Louisiana. The company owns a 24% and 32.5% working interest, respectively.

The Fisher 20 No. 1 generated a 24 hour flow rate of 13.63 Mmcf and is located in DeSoto Parish, Louisiana but only has a 0.6% working interest in the well.

According to its website, Cubic Energy holds roughly 24,000 gross (5,400 net) acres in the Cotton Valley area and roughly 22,000 gross (4,300 net) acres in the Haynesville Shale area.

Cubic has now participated in producing 19 Horizontal Haynesville Shale wells with their joint venture partners.

Source:  Global Hunter Securities

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