Operational Updates
Forest Oil Provide Eagle Ford, Panhandle, Hogshooter and East Texas Ops
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Forest holds approximately 178,000 gross acres (108,000 net) in the Panhandle Area. The Company continues to focus drilling activities on the Missourian Wash (Hogshooter), Cleveland, Tonkawa, and Douglas oil formations. Forest entered the third quarter of 2012 operating five rigs in the Panhandle Area and is currently running a two-rig drilling program.
Highlighting drilling activity since Forest’s last earnings release, the productive boundary of the Hogshooter play was successfully extended with a completion in the Camp South Area, which is located north of the Frye Ranch Area. The initial well (100% WI) came online with an average 24-hour maximum production rate of 1,128 Bbls/d of oil, 216 Bbls/d of NGLs, and 1.4 MMcf/d of natural gas, for a total equivalent…
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