Operational Updates
Unit Corporation Provides 2011 Operational Update; Enters Mississippi Lime Play
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Operational Updates
During 2011, Unit drilled 34 wells with an average working interest of 87% in its Marmaton horizontal oil play located in Beaver County, Oklahoma. The initial 30-day average production rate for the 34 wells ranged from 20 barrels of oil equivalent (Boe) per day to 930 Boe per day with an average rate of 308 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 fourth quarter 2011 averaged 2,295 barrels of oil per day, 321 barrels of NGLs per day, and 1,077 Mcf per day, an increase of 46% over the third quarter 2011 and a…
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