Crimson Exploration Inc. released an operational update on its oil and gas exploration and development activities during the third quarter of 2010. The company advanced its drilling program in several different project areas in Texas.
Crimson Exploration Inc. reported that the company has started completion operations on two wells in East Texas that are targeting a shale formation at depths of approximately 18,000 feet. The company expects the two wells to be put into production by the end of this month.
Crimson Exploration Inc. is currently drilling a well in the Tiger Prospect area in East Texas. The company expects to finish drilling and start completion operations in late December 2010. This is the company’s first well on its acreage in Sabine County.
Once the well at the Tiger Prospect is finished, Crimson Exploration Inc. plans to spud a fourth well in East Texas. The company estimates that this well will be completed in the first quarter of 2011.
Crimson Exploration Inc. reported production of 36.8 million cubic feet of natural gas equivalents per day during the third quarter of 2010. This was a 4% decline compared to the third quarter of 2009, when the company produced 38.3 million cubic feet of natural gas equivalents per day.
For more information on the company, go to www.crimsonexploration.com
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