Operational Updates
Unit Corporation 2012 First Quarter Results - Mississippi Lime and Granite Wash Update
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Marmaton Horizontal Oil Play
During the first quarter of 2012, in the Marmaton horizontal oil play located in Beaver County, Oklahoma, Unit had first sales on six wells with an average working interest of 75%. The initial 30-day average production rate for the six wells ranged from 30 barrels of oil equivalent (Boe) per day to 580 Boe per day with an average rate of 263 Boe per day. The average ultimate recovery for a Marmaton horizontal well is estimated to be 130 MBoe, which is comprised of approximately 78% oil, 14% NGLs, and 8% natural gas. The average completed well cost is approximately $2.7 million. The net production from Unit’s Marmaton operated wells for the first quarter 2012 averaged 1,775 barrels of oil per day, 188 barrels of NGLs per day, and 1,054 Mcf per day, a…
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