Louisiana

Cubic Energy Inc., Dallas, said its 2010 Haynesville shale drilling program spending could exceed $40 million.

By OGJ editors
HOUSTON, Apr. 7
– Cubic Energy Inc., Dallas, said its 2010 Haynesville shale drilling program spending could exceed $40 million.

Based on projections by operators of Cubic’s Haynesville acreage, Cubic is set to participate in as many as 13 gross and 4.62 net horizontal Haynesville shale wells at 36.2% working interest in calendar 2010.

Meanwhile, Cubic announced a peak 24-hr flow rate of 1.35 MMcfd/frac stage from the Red Oak 6-1 well in Bethany-Longstreet field, Caddo Parish, La. At the well, in which Cubic holds 35% working interest, five of 15 planned frac stages were pumped due to a casing breach at 11,000 ft. Another well with 10-15 frac stages is planned for the same location.

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