Exploration & Production | Drilling / Well Results | Quarterly / Earnings Reports | Second Quarter (2Q) Update
Red Mountain Makes Progress at Permian Basin Wells
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Red Mountain Resources, Inc. has reported the following operational update today.
Net production for the quarter ended June 30, 2014 was approximately 109.2 MBoe, which equates to approximately 1,200 Boe/d based on actual calendar days during the period.
Madera Prospect (Lea County, New Mexico)The Company owns 2,545 gross (1,132 net) acres in the Madera Prospect. The Company has seven producing wells, one disposal well, and one well awaiting completion in this area. The Madera 25 Federal Com 2H well, which is awaiting completion, has been on hold pending resolution of a casing problem. The Company has resolved the casing issue, and it expects to complete the well with a 20 stage fracture stimulation in September 2014. The Company owns an approximately 30% working interest and 23% net…
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