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The company reported a net loss for the quarter.
The Avalon Shale, which extends essentially across the entire Delaware Basin, is a member of the Permian-aged Bone Spring formation of the Leonardian geologic series. It is sandwiched betweenthe Delaware Sands and 1st Bone Spring Carbonate above and the 1st Bone Spring Sand below at depths ranging from 6,500 – 9,000’.
The Avalon covers largely the same area as the 1st Bone Spring and its name is occasionally used by some operators to refer to either or both…