This thing has just got no love on the internet, really hard to find any decent info on it, well for me it was :)
Heres some of what i found:
--- work overs in the basin seem to be all the rage atm
--- The entire Permian Basin during 1966 produced a total of 607 million barrels of oil and 2.3 trillion cubic feet of gas for a total of $2 billion (in todays money my god - 607million x $80 ----- PWOAH is all i can say). A cumulative total of 11.3 billion barrels of oil had been produced.
--- In 1992 the Texas (SIDE NOTE THE BASIN COVERS BOTH TEXAS AND NEW MEXICO) counties of the Permian basin produced over 217 million barrels of oil. Total production for that region up to the beginning of 1993 was over 14.9 billion barrels.
--- The well is adjacent (twins) to the State GC#1 well which produces oil from the Lower Leonard Formation. This well has produced a gross 543,000 barrels and has a gross Expected Ultimate Recovery of 1.1 million barrels
--- SSN's acerage is on the outer of the basin http://www.pbpa.info/images/misc/permianbasinmap_large.jpg
--- the reason the well never really got any attention was a) well head was lost during drilling b) As part of the purchase agreement of the acerage, Samson was required to drill an initial well within twelve months or forfeit the lease of the acreage.
Well, its not really helpful, but the more you know i guess?
SSN Price at posting:
2.9¢ Sentiment: LT Buy Disclosure: Held
