Cross Border Resources updates 2nd Bone Spring activity in Permian Basin

Source: Cross Border Resources, Inc.

Cross Border Resources, Inc. (OTCQX: XBOR.OB) ("Cross Border" or "the Company") today provided an update on its 2nd Bone Spring activity in the Permian Basin.

WELL NAME

COUNTY

OPERATOR

FORMATION

WORKING INTEREST

STATUS

SE Lusk 33 #2H

Lea, NM Cimarex 2nd Bone Spring 37.50% Expected to Spud the week of 1/3/2012

SE Lusk 33 #3H

Lea, NM Cimarex 2nd Bone Spring 37.50% Drilled to a total depth of 14'241, awaiting frac
Ocelot 34 Fed Com #1H Lea, NM Mewbourne 2nd Bone Spring 12.55% Currently drilling at 10'063
Zircon 2 #1H Eddy, NM Mewbourne 2nd Bone Spring 12.55% Drilled to a total depth of 12'370, frac scheduled for 1/4/2012

"We are reaffirming our January exit rate at approximately 500 boepd, which would include the production from the SE Lusk 33 #3H, Ocelot 34 Fed Com #1H, and Zircon 2 #1H, and are optimistic about our 2nd Bone Spring acreage in both Eddy and Lea Counties, New Mexico , due to optimal sub-surface control as well as offsetting and/or on-trend production. These wells are identified as developmental rather than exploratory and currently booked as one Proved Undeveloped, one Probable, and two Possible, thus potentially proving up additional reserves for Cross Border shareholders," stated Everett "Will" Gray II, CEO and Chairman of Cross Border. "We intend to update our other Permian Basin activity within the next several weeks and will continue to keep shareholders apprised of the results of these wells."

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs