Crimson Exploration Inc. (NasdaqGM: CXPO) announced today the successful
completion of the Mosley #1H (84.3% WI), its first horizontal Woodbine
oil well in Madison County, Texas, at a gross initial production rate of
1,203 Boepd, or 1,017 barrels of oil, 87 barrels of natural gas liquids
and 595 mcf, on a 30/64th choke and 601 psi of tubing
pressure. The well was drilled to a total measured depth of 15,650 feet,
including a 6,300 foot lateral, and was completed using 23 stages of
fracture stimulation.
Additionally, Crimson is actively drilling two horizontal wells
targeting the Woodbine formation in Madison County, the Grace Hall #1H
(82.4% WI) and the Vick Trust #1H (75% WI). The Grace Hall #1H, located
approximately 1.2 miles north of the Mosley #1H, has reached a total
measured depth of 16,000 feet, including a 7,500 foot lateral, and the
Vick Trust #1H, located approximately 6 miles east of the Mosley #1H, is
currently drilling at 11,469 feet toward a total measured depth of
15,200 feet, including an estimated 6,500 foot lateral. Both wells are
expected to be completed with 20 – 25 stages of fracture stimulation.
Production from these wells is anticipated to commence mid-second
quarter. Upon completion of the drilling of the Vick Trust #1H, Crimson
will move that rig to the A. Yates #1H (50% WI) location.
The Woodbine formation is a Cretaceous aged series of sandstones and
siltstones that reside within the prolific Eagle Ford source rock and is
generally described as being between the overlying Austin Chalk
formation and the underlying Buda formation. The productive Woodbine
sands in the Madison and Grimes County area are a lower porosity and
permeability extension of the prolific 100 Mmbo Kurten Field in adjacent
Brazos County. Previous to the current horizontal drilling and
multi-stage frac completions, the Woodbine was developed through
conventional vertical completions. The lower porosity and permeability
in Madison and Grimes counties had a significant negative impact on
initial rates and recoveries from these vertical completions; however,
with the advent of horizontal drilling and multi-stage frac completions,
a 10 – 20 fold increase in rates and recoveries are recognized. Crimson
recognizes that this newer technology can also be applied to other
formations that have historically low volumes associated with vertical
or open hole horizontal completions, specifically the Austin Chalk,
Buda, Georgetown, Glenrose and the other multiple sand lobes within the
Woodbine formation.
Crimson has approximately 17,500 net acres in Madison and Grimes
counties, Texas.