Haynesville Shale

GMX Resources Reports Completion Of Blocker Heirs #20H Haynesville Shale Well

GMX Resources (GMXR) reported the completion of a well in the Haynesville Shale. The company said that the Blocker Heirs #20H produced at an initial production rate of 14.4 million cubic feet of gas per day.

GMX Resources said that the Blocker Heirs #20H was drilled with a 4,450 foot lateral, and completed using an 11 stage hydraulic fracturing operation.

The most recent Haynesville Shale well for GMX Resources was the Mia Austin #1H, which had an initial production rate of 14.1 million cubic feet of gas per day.

GMX Resources plans on drilling 5 more Haynesville Shale horizontal wells in the second quarter of 2010. The wells in estimated order of dates of completion are:

Verhalen D #3H – April 2010

Verhalen E #6H – April 2010

Blocker Ware #8H – Second quarter of 2010

Mercer #11H - Second quarter of 2010

Verhalen F #1H - Second quarter of 2010

GMX Resources Enters Into Haynesville Shale Joint Venture

GMX Resources (GMXR) announced that it entered into a joint venture agreement with EXCO Resources (XCO) to develop Haynesville Shale acreage located in Harrison County, Texas.

The joint venture will combine Haynesville Shale acreage from the Verhalen Prospect (GMX Resources) and from the Hamilton Unit (EXCO Resources), creating a block of 3,850 contiguous acres. GMX Resources estimates that it has 49 drilling locations on the joint venture acreage.

GMX Resources said that the Verhalen F #1H, the first well in the joint venture was spud on March 29, 2010. The estimated cost of this Haynesville Shale well is $8 million.

GMX Resources Reports Haynesville Shale Completion

GMX Resources (GMXR) announced the completion of a horizontal well in the Haynesville Shale, and updated investors on its operations in the Haynesville Shale.

GMX Resources said that the Bosh #19H had an initial production rate of 10.1 million cubic feet of gas per day. The well was drilled with a 4,153 foot lateral and completed with a 12 stage hydraulic fracturing operation. Mechanical difficulties prevented the last 5 stages from being accessed during the completion process.

GMX Resources said that the Blocker Heirs 20H was drilled with a 4,450 foot lateral and completed with an 11 stage hydraulic fracturing operation. The company said that it would have its initial production test rate by April 16, 2010.

GMX Resources plans on drilling and completing five additional Haynesville Shale wells during the second quarter of 2010.