Exploration & Production
GMX RESOURCES INC. Announces Spudding of Eighth Bakken well
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GMX RESOURCES INC., NYSE: ‘GMXR’; announces today that the Company has spud the Basaraba 24-35-1H located in Sections 26&35, Township 144N, Range 100W in Billings County, North Dakota. The Company has a 50% working interest in the Basaraba 24-35-1H which has a proposed total depth of 20,950' and a proposed total vertical depth of 11,221'. The well was spud with an H&P FlexRig 3™ #255.
Michael J. Rohleder, Company President, said “We are pleased to establish a relationship with Helmerich & Payne in North Dakota. Our success in lowering overall costs by improving drilling times and spud to sales cycle times with the H&P FlexRig 3™ in our East Texas operations from 2009 to 2011 gives us continued confidence in our ability to do the same in our Bakken program. This rig comes with an…
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