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GMX Resources Inc. Message Board

  • pocilujko pocilujko Dec 5, 2012 1:29 AM Flag

    From the Presentation(tomorrow's)

    Fairfield State 21-16-1HRE and 21-16-2H next drilling locations with two Middle Bakken wells drilled and stimulated using zipper frac or simul frac

    The Fairfield State 21-16-HRE looks to be a Re-fracturing of the existing Well:

    "The Company's seventh operated well Fairfield State 21-16-1H in Sections 16&21, Township 143N Range 99W in Billings County North Dakota. During the sliding sleeve completion of the Three Forks we screened out after the first four stages. We were only able to complete less than 30% of the remainder of the lateral as a modified plug and perf design. The peak flow rate on the well was 177 BOE. The Middle Bakken in pilot hole looked very good and will be the target of future development."

    The Fairfield State 21-16-2H is a 2ND Horizontal well that is yet to be permitted.

    ED

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    • From the Presentation:
      1. The Fairfield 1H will be plugged as a Three Forks well. Then the Well will be Completed as a Middle Bakken Well.
      2. The Fairfield 2H is on the same pad and will be drilled and Completed as a Middle Bakken Well.

      ED

      • 2 Replies to pocilujko
      • Ed, perhaps you could help me reconcile some production numbers and forecasts. I took a look at the GMX production spreadsheet and it says that in October, GMX produced a little over 20,000 bbls. including non operated wells. So if GMX did nothing else for the rest of the year and their wells produced at about the same rate, they would hit their 60,000 bbl 4th quarter projection. However, you stated that the Basaraba has not produced in 60 days. We also know that the Akovenko 2 is producing and we might get a little bit from the Lange 2. Does this suggest that Basaraba will produce nothing in November and December and Akovenko 2 will essentially replace/substitute what Basaraba would have produced in order to get the 60,000 figure?

      • Big deal. Both Q4 and Q1 guidance have now been cut.