Panola field growing in Oklahoma Arkoma

By OGJ editors
HOUSTON, May 16 -- Unit Corp., Tulsa, said its Unit Petroleum Co. subsidiary started production May 2 at 42 MMcfd of gas from its Lively No. 7 well in Panola field in Latimer County, Okla., southeast of Wilburton in the Arkoma basin.

The well, in which Unit has 29.78% working interest, cut 238 ft of net natural gas pay in Pennsylvanian Lower Atoka.

Unit has drilled or participated in seven wells since the fall of 2004 that have produced more than 37 bcf of gas combined for an average flow rate of 67 MMcfd/well during the period. The eight wells are delivering 155 MMcfd.

Unit sees numerous development opportunities in as many as eight prospective sands to target in the next few years.

Meanwhile, Unit Petroleum completed its previously announced acquisition of oil and gas properties in Oklahoma, Texas, and New Mexico from a group of private entities for $32.4 million.

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