Haynesville Shale

GMX Resources Issues Haynesville Shale Update

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.

GMX Resources Updates Production On Two Haynesville Shale Wells

GMX Resources (GMXR) released updated production information on two wells recently drilled to the Haynesville Shale formation.

The Mercer #11H was put to sales on July 27, 2010, and produced an average of 8.17 million cubic feet per day of natural gas during the first thirty days of production.

The Verhalen F #1H was put to sales on July 7, 2010, and produced an average of 5.74 million cubic feet per day of natural gas during the first sixty days of production.

GMX Resources said that these two Haynesville Shale wells benefited from a refinement of the completion process used by the company on its acreage.