Mark Papa
Mark Papa
based billion block commence drilling expect feet gas intend net prove results targeting together work
Based on the drilling results from the E-1, we expect that together the E-1 and E-2 wells will prove up 200 to 400 net billion cubic feet of gas on Block 4(a). We intend to commence development work by mid-2006 and are targeting mid-2009 for on-line production.
achieved capital consistent continue daily debt delivering drilling dynamic equity expect high net paying percent posted production rate return strategy throughout total year
In 2005, we executed a dynamic drilling program, posted a 16.2 percent daily production increase, achieved a 35.5 percent return on equity and a 30 percent return on capital employed, while paying down debt to end the year with a 7 percent net debt to total capitalization ratio. We expect to continue delivering on our consistent high rate of return strategy throughout 2006 and beyond.
actively applied assurance believe completion counties county drilling economics further improved johnson past provides pursue results seen techniques three western
We believe that the completion techniques that further improved our drilling economics in Johnson County can be applied to our acreage in the western counties where we have seen improved drilling results over the past three months. This provides the assurance to actively pursue development in these areas.