Mexco Energy (MXC) Reports Exploration Results from Well in Loving County, Texas
Mexco Energy Corporation (Amex: MXC) today announced completion of a well in Loving County, Texas.
The well produced from a 45 acre drilling and spacing unit on a 24/64" choke flow test on May 16, 2008 at a rate of 3,450,000 cubic feet of gas per day with a flowing tubing pressure of 1,000 pounds per square inch, 912 barrels of water and 48 barrels of oil per day.
Mexco's working interest in this well is 31.25% (net revenue interest of 22.94%). Further testing, exploration and development of this discovery is anticipated and we will issue an update later in the week.
StreetInisider note: Shares of Mexco have been halted since about 11 AM ET.
Mexco Energy Corporation, together with its subsidiaries, engages in the exploration, development, and production of oil and gas properties in the United States.
Create E-mail AlertRelated Categories
Corporate NewsHot List
Stocks Mentioned
+1.15Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
