Cimarex Energy (NYSE:XEC) reported earnings for the first quarter of 2010, and held a conference call to discuss the results. During the call, the company made some comments on its activities in the Woodford Shale.
“We've drilled or completed some outstanding wells so far in 2010, and we've talked about a number of those but we have the Rolls 13H which made 5.3 million cubic feet a day, its first 30-day average. The Miller Trust 15H where we have a 61% working interest, made 7.8 million cubic feet a day, its first 30-day average."
"The Harts 132H that's a well we have a 100% working interest in, that made 7.19 million cubic feet a day on average for its first 30 days, also made 151 barrels of oil per day recovered at the wellhead. So an outstanding spending well in the core of the Cana play.”
“Our current cost estimates for our new drill are somewhere in the $7.5 million to $8 million range. For that a larger number of stages, we're probably going to be at $8 million, or slightly above there.”
“We have seven operative rigs drilling in the Cana-Woodford play. We're have outstanding results. It continues to look better and better for as. It's a large resource and it will be an important part of our portfolio for a long time.”
Source: Seeking Alpha