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Crimson strikes oil in Texas

by on July 31, 2012 3:25 pm GMT
 

The Houston-headquartered explorer said the Payne 1H well in
the Force Area of Madison County teste a gross initial production rate of 1332
barrels of oil equivalent per day.

This was comprised of 1128 barrels of oil per day, 112
barrels of natural gas liquids per day and 554 million cubic feet of gas per
day.

The well was the sixth horizontal well from Crimson to test
the Woodbine formation.

“The performance from Crimson’s wells demonstrates that this
area continues to respond positively to longer laterals and perf and plug
completion techniques,” the company said on Tuesday.