GMX Resources (GMXR) issued an update on its operations in the Haynesville Shale, including data on production and well costs.
GMX Resources brought eight wells onto production during the fourth quarter of 2010. These wells had an average lateral length of 5,356 feet and an average cost of $8.9 million. The company indicated that this was a decline in average cost of $500,000 per well.
GMX Resources reported that the Mia Austin #6H Haynesville Shale well produced an average of 7.24 million cubic feet of natural gas per day during the first sixty days. The Bosh Heisman #17H well was recently drilled and completed into the Haynesville Shale with a lateral length of 6,164 feet and a fifteen stage hydraulic fracturing operation.
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