Exploration & Production | Quarterly / Earnings Reports
Forest Oil Updates Cotton Valley; Panhandle Sale
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Forest currently maintains a large acreage position including approximately 239,000 gross (162,000 net) acres in the greater Ark-La-Tex Area, including the Arkoma Basin. Approximately 78% of the acreage is held by production, of which 85% is operated by Forest. The asset base provides repeatable and predictable drilling and recompletion opportunities in multiple horizons. Recent drilling activity has focused on the high liquid yield Cotton Valley formation and other liquids-rich horizons within East Texas.
During the third quarter, two horizontal Cotton Valley wells were completed with a 30-day average gross production rate of 10 MMcfe/d (38% liquids or 640 Bbls/d). Forest has drilled five wells during 2013 that have had a 30-day average gross production rate of 9 MMcfe/d…
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