GMX RESOURCES INC., (the “Company”); an oil and gas exploration and production Company with assets in the Williston Basin, Denver Julesburg (“DJ”) Basin and East Texas Basin.
The Heiser 11-2-1H well, located in Sections 2 & 11, Township 145N Range 99W in McKenzie County is currently producing with a peak 24 hour flow rate of 3,268 BOEPD. The Company has a 66% working interest in the well which targeted the Middle Bakken with a lateral length of 9,620'.
The Company’s president, Michael Rohleder, stated “our most recent completion, the Heiser 11-2-1H, had our highest initial production peak rate of 3,268 BOEPD to date and confirms that the changes we have made in our drilling and completion programs are having a positive effect. The Heiser unit is an offset of the Akovenko units and the two wells previously completed and this IP rate could provide further evidence that multiple completions in close proximity create better communication with the natural fracture network system. This supports our plan to increase production and significantly lower well costs by focusing our 2013 capex exclusively on PAD drilling and simultaneous zipper frac completions.”
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