GGP 0.00% 0.6¢ golden gate petroleum ltd

permian basin - oil flows

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    Approach Resources (AREX) reported the completion of two recent wells completed into the Wolfcamp play on the company’s acreage in the Permian Basin. The names and initial 24 hour flow rates of these Permian wells are:

    Cinco Terry M 901H – 171 barrels of oil equivalent (BOE) composed of 51 barrels of oil, 61 barrels of natural gas liquids and 355,000 cubic feet of natural gas. The Cinco Terry M 901H well was drilled with a 5,377 foot lateral and completed with a fifteen stage hydraulic fracturing operation.

    University 42 21 1H - 316 barrels of oil equivalent (BOE) composed of 132 barrels of oil, 93 barrels of natural gas liquids and 543,000 cubic feet of natural gas. The University 42 21 1H well was drilled with a 7,037 foot lateral and completed with a twenty one stage hydraulic fracturing operation.
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    SRH-C # 6H well, the first oil and gas discovery in our Permian Project, flow tested and produced 379 barrels of oil and 328 mcf gas over a 24 hour period using variable choke settings and at stable flowing pressures.

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    My Question Re: above info..does anyone know what the "norm"
    flow rates are out of the basin and what flow rate is regarded as commercially viable..
 
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