This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Crimson Exploration Increases Acreage Position In Madison County, Texas And Prepares For Initial Horizontal Woodbine Well

Crimson Exploration Inc. (NasdaqGM:CXPO) today announced the acquisition of 4,700 gross (4,600 net) leasehold acres in Madison County, Texas that is contiguous to Crimson’s existing Madisonville Field. Crimson has substantially increased its leasehold position in Madison and Grimes counties during 2011 and now has approximately 19,000 gross (15,500 net) acres that it believes to be prospective for a number of liquids-rich formations.

As a result of horizontal drilling and multi-stage frac technology, the Woodbine oil play in East Texas has seen a resurgence of activity. Adjacent to Crimson’s acreage in Madison and Grimes Counties, offset operators have recently experienced excellent results from using these techniques in the re-development of the Woodbine. Additional horizontal potential exists in other proven reservoirs including the Austin Chalk, Buda, Georgetown, Lewisville and Glen Rose Formations. By year-end, Crimson will move a rig onto its initial well location, the Mosely #1H (~86% WI), and anticipates drilling the well to a total measured depth of 16,900 feet, that includes a 7,700 foot lateral. Crimson expects to keep the rig active throughout 2012 in order to assess its acreage position across Madison County and into Grimes County.

Allan D. Keel, President and Chief Executive Officer, commented, “Crimson is very pleased to increase its position in Madison County. We continue to focus our capital program on developing oil-weighted opportunities and the Madison/Grimes County area provides a multi-year inventory of liquids-rich growth opportunities with very attractive internal rates of return.”

Crimson Exploration is a Houston, Texas-based independent energy company engaged in the acquisition, development, exploitation and production of crude oil and natural gas, primarily in the onshore Gulf Coast regions of the United States. The Company owns and operates conventional properties in Texas, Louisiana, Colorado and Mississippi, approximately 6,000 net acres in the Haynesville Shale, Mid-Bossier, and James Lime plays in San Augustine and Sabine counties in East Texas, approximately 8,000 net acres in the Eagle Ford play in South Texas, approximately 15,500 net acres in Madison and Grimes counties in Southeast Texas and approximately 11,000 net acres in the Denver Julesburg Basin of Colorado.

Stock quotes in this article: CXPO 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,501.65 -12.72 -0.08%
S&P 500 1,875.39 -4.16 -0.22%
NASDAQ 4,126.9670 -34.4910 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs