MITCHELL ENERGY REPORTS THREE NEW MEXICO PRODUCERS
MITCHELL ENERGY REPORTS THREE NEW MEXICO PRODUCERS THE WOODLANDS, Texas, March 3 /PRNewswire/ -- Mitchell Energy &
Development Corp. (AMEX: MND) today reported the completion of three oil producers in Lea County, New Mexico.
The new wells are: -- The MEC Geronimo No. 5, which pumped at a rate of 150 barrels per day from perforations between 8,938 feet and 9,083 feet in the Bone Spring interval of the Geronimo Field; -- The MEC Geronimo No. 6, which pumped at a daily rate of 285 barrels from perforations between 7,570 feet and 7,658 feet in the Delaware formation of the Geronimo Field; and -- The MEC Sapphire Federal Unit No. 2, which pumped at a rate of 95 barrels of oil per day. Perforations were in four zones between 7,257 feet and 7,404 feet in the Delaware formation of the Gem East Field. Mitchell holds 100 percent of the working interests in the Geronimo wells and 86 percent of the Sapphire. The southeastern New Mexico area is playing an increasingly important role in Mitchell's drilling program. Since 1989, the company has expanded its leasehold position in Lea and Eddy counties from 14,300 to approximately 72,000 gross acres, including approximately 6,200 acres purchased in the first two months of 1992. Many of the 30 wells Mitchell has drilled or participated in there have revealed multiple producing horizons and future development opportunities. Mitchell Energy & Development Corp. is among the nation's largest independent energy producers. The company also has significant real estate interests in the Houston-Galveston area. -0- 3/3/92 /CONTACT: Debbie Siegfried or Tony Lentini of Mitchell Energy & Development, 713-377-5650/ (MND) CO: Mitchell Energy & Development Corp. ST: Texas IN: OIL SU: SM -- NY037 -- 4426 03/03/92 10:51 EST
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|Date:||Mar 3, 1992|
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