The 30-day average production rate for the 11 wells ranged from 1.3 MMcfe per day to 10.0 MMcfe per day with an average rate of 4.8 MMcfe per day.
Cordillera's leasing activity in the highly liquids-rich fairway in the Anadarko Basin since January brought its total acreage to 312,000 net acres, up from 254,000 acres.
The company experienced production curtailments in the Texas Panhandle Area, which resulted in a reduction of net sales volumes of approximately 9 MMcfe/d during the quarter.
The company's net horizontal Granite Wash production during the first quarter averaged approximately 137 MMcfe/d.
The package includes various interests in 36 wells with operated and nonoperated production in 7,698 gross leasehold acres that are held by production or producing in the Mountain Front area in Beckham, Kiowa and Washita counties.
Panhandle Oil and Gas Inc. reported that is has leased partial rights to 2,846 of its net mineral acres located in Roger Mills County, Okla., to a large independent exploration and production company for $4,981,000.
Cordillera recently completed the Bowers 104HC producing 15,317 mcf and 540 bo in a 24 hour sales period on a 40/64” choke with a flowing casing pressure of 2,650 psi.
Adjusted operating income from our Anadarko system was slightly higher than the comparable period of 2010 as the system benefited from overall production growth in the Granite Wash region, partially offset by contractual payments to producers for unprocessed natural gas.
Kerns’ select properties include 17 producing wells on 2,166 gross acres in Roberts and Hemphill Counties, TX.
Operating income from continuing operations, excluding the impact of impairments, for the Midstream Business in the fourth quarter of 2011 decreased by approximately $2.0 million, or 13%, compared to the third quarter of 2011.