•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Sun River Energy completes Haynesville Shale well in Carthage Field

    Dallas-based Sun River Energy Inc., a development stage upstream oil and gas company, has completed the Neal Heirs # 1 well in the Haynesville Shale formation in East Texas and turned it to production on March 31. The well was drilled vertically to a total depth of 11,057 feet in Panola County, Texas.

    Located in the prolific Carthage Field, the well initially shut-in at 5,386 PSI tubing pressure after fracture treatment. Currently, it is producing both natural gas and crude oil and is flowing at 2,256 MCF a day with a constant flowing tubing pressure of 3,320 PSI.

    Sun River Operating Inc. operates the well, and Sun River Energy Inc. owns a 77.5% working interest in the well.

    Donal R. Schmidt, Jr., the company’s president and CEO, said, “It is always a relief to have your first well in a project come on like the Neal Heirs #1. The well exceeded our team's initial expectation in every way. We are presently preparing to drill two more wells in adjoining gas units and expect similar results. The Neal Heirs #1 confirms my belief that our team has what it takes to consistently develop deep unconventional gas at an attractive cost. Our preliminary estimate is that the net finding and development cost per MCFE of proved gas in this well will be around $1.24. This will place us at the top of low cost producers in our sector of the natural gas market.”

    Most Popular

    Related Articles

    Sabine enters into forbearance agreement to second lien term loan facility

    05/22/2015 Sabine Oil & Gas Corp. has entered into a forbearance agreement with the lenders under its second lien term loan facility. The forbearance agreement will provide the company with additiona...

    EXCO Resources appoints Jameson as COO

    04/19/2015 EXCO Resources Inc. has appointed Harold H. Jameson as EXCO’s COO, effective April 17. Jameson most recently served as EXCO’s vice president of development and production with primary responsibilit...

    Matador prices public offering of common stock

    04/17/2015 Matador Resources Co. has priced an underwritten public offering of 7,000,000 shares of its common stock. Total estimated proceeds of the offering to Matador, before estimated offering expenses, ar...

    Matador begins public offering of common stock

    04/16/2015

    Matador Resources Co. has begun an underwritten public offering of 7,000,000 shares of its common stock.

    EIA: US shale production set to record first drop in four years

    04/14/2015 The US Energy Information Administration’s monthly drilling report, released April 13, says that oil production from US shale plays is expected to decline 45,000 barrels per day (bpd) to 4.98 milli...

    Roth and Ghauri join Jones Walker’s Houston office

    03/16/2015 David R. Roth and Shahid A. Ghauri have Jones Walker LLP’s Houston office. Roth is a partner in the Real Estate Practice Group and Ghauri is a partner in the Business and Commercial Transactions Pr...

    More Oil & Gas Financial Articles

    Sabine enters into forbearance agreement to second lien term loan facility

    Fri, May 22, 2015

    Sabine Oil & Gas Corp. has entered into a forbearance agreement with the lenders under its second lien term loan facility. The forbearance agreement will provide the company with additional flexibility as it continues discussions with its creditors and their respective professionals regarding the company's debt and capital structure. 

    EXCO Resources appoints Jameson as COO

    Sun, Apr 19, 2015

    EXCO Resources Inc. has appointed Harold H. Jameson as EXCO’s COO, effective April 17. Jameson most recently served as EXCO’s vice president of development and production with primary responsibilities including EXCO’s horizontal shale development drilling programs in the Haynesville, Eagle Ford, and Marcellus assets.

    Matador prices public offering of common stock

    Fri, Apr 17, 2015

    Matador Resources Co. has priced an underwritten public offering of 7,000,000 shares of its common stock. Total estimated proceeds of the offering to Matador, before estimated offering expenses, are $189 million. The offering is expected to close on April 21.

    Matador begins public offering of common stock

    Thu, Apr 16, 2015

    Matador Resources Co. has begun an underwritten public offering of 7,000,000 shares of its common stock.

    EIA: US shale production set to record first drop in four years

    Tue, Apr 14, 2015

    The US Energy Information Administration’s monthly drilling report, released April 13, says that oil production from US shale plays is expected to decline 45,000 barrels per day (bpd) to 4.98 million bpd in May from 5.02 million bpd in April – marking this as the first such monthly decline seen in over four years.

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ