Operational Updates
Crimson Announces 1Q12 Operational Update
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Crimson Exploration Inc. today announced financial results for the first quarter of 2012.
Highlights
Increased quarterly oil and liquids production to 38% of total production, up from 30% in prior year quarter and 34% in the fourth quarter of 2011; oil and liquids production currently at 47% of total production Successfully completed the Mosley #1H, Crimson’s first horizontal Woodbine well, at a gross 24-hr IP rate of 1,203 Boepd and has produced close to 60,000 Boe in the first 60 days; currently producing 1,125 Boepd Borrowing base reaffirmed at $100 million as of May 1, 2012 First quarter production of 38,360 mcfepd, revenue of $26.7 million and EBITDAX of $16.4 millionDrilling Update
Crimson is currently drilling its fourth operated horizontal Woodbine well in Madison and Grimes…
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