Update Regarding the Partnership's Position in the South Central Oklahoma Oil Province ("SCOOP")
Eagle Rock's Golden Trend field and Southeast Cana leasehold are located in the heart of the South Central Oklahoma Oil Province ("SCOOP") in Grady, McClain and Garvin Counties, Oklahoma recently highlighted by Continental Resources Inc. and other producers. The Partnership owns approximately 14,000 net acres in the "SCOOP" area that produce from multiple formations including horizontal completions in the Woodford shale. During most of 2012, the Partnership has operated three drilling rigs and participated in third party operated wells in the Golden Trend and Southeast Cana, drilling both vertical tests through multiple formations and horizontal Woodford wells. Eagle Rock's initial operated Southeast Cana horizontal Woodford well, the Beckham 1-27H, is producing to sales and averaged 4.3 MMcfd and 197 Bopd in its first thirty days of production. A second operated well and two non-operated wells are currently drilling, and a third non-operated well is waiting on completion.
"We are excited about both our and the industry's production results from the Woodford horizontal drilling in Southeast Cana," said Joseph A. Mills, Eagle Rock's Chairman and Chief Executive Officer. "Our Golden Trend field and primary term leasehold in Southeast Cana are extremely well-positioned in the de-risked portion of this extended Woodford horizontal drilling play."