Gastar Exploration Ltd. provides an update on recent recompletion and drilling operations in East Texas.
Gastar has recompleted the Wildman Trust #3 well in a middle Bossier zone referred to as the Lanier Sand. The Lanier Sand is located at approximately 16,960 feet in the Wildman Trust #3 well. The Lanier Sand was fracture stimulated and brought on line at an initial gross sales rate of 21 MMCFD at a flowing casing pressure of 7,000 psi. Four deeper producing zones in the Wildman Trust #3 well were shut-in prior to the recompletion. Upon a decline in the flowing casing pressure of the Lanier Sand, the deeper zones will be co-mingled with the Lanier Sand. Gastar has a 62% working interest (approximately 46% net revenue interest) in the Wildman Trust #3 well.
Gastar has also undertaken a series of other recompletions to add additional production from four other existing wells. All of these recompletions have been successfully implemented and will assist in meeting the Company's fourth quarter production targets.
Gastar is currently drilling two other deep Bossier wells, the Belin #1 and the LOR #7. The Belin #1 is a lower Bossier well, drilling to a target depth of approximately 19,250 feet and offsets the Donelson #3 and Wildman Trust #3. In addition to the lower Bossier targets, the Belin #1 is expected to also encounter the Lanier Sand. The LOR #7 is a middle Bossier well drilling to a target depth of approximately 16,600 feet that offsets the LOR #6, a recent 17.5 MMCFD single zone completion well. Both of these wells are expected to be completed in late November 2008.
J. Russell Porter, Gastar's President and Chief Executive Officer, commenting on the announcement, stated,
"The Lanier Sand recompletion in the Wildman Trust #3 well was anticipated to be a high-rate completion due to the reservoir qualities observed in this well and in several other wells. We should also have an opportunity to recomplete the Donelson #3 well in this zone in the future. The Lanier Sand was also observed in two earlier wells drilled in the Hilltop area and may cover an area larger than our other lower Bossier sands."