GMX RESOURCES INC. Announces Successful Completion of Middle Bakken Well; Company President to Present at IPAA Oil and Gas Investment Symposium
GMX RESOURCES INC., (NYSE: GMXR), today announces that the Company has successfully drilled and completed its fourth operated horizontal Bakken well, the Lange 11-30-1H, 89% working interest, located in Sections 30&31 Township 147N Range 99W in McKenzie County, North Dakota. The Lange 11-30-1H was drilled to a measured depth of 20,519' with a lateral length of 9,348'.
It was completed as a 32 stage frac Middle Bakken producer achieving a peak rate of 2,549 boepd @1,500 psi flowing casing pressure.
Michael J. Rohleder, President said, "The Lange result is consistent with our belief that the acreage position we have in Billings and McKenzie counties will deliver terrific results. The Lange's initial rate is more than 50% greater than the rate that was reported on our non-operated Taboo well, which is a direct offset to the Lange. Our 2012 drilling plan will continue to be focused in this very productive region."
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