The well is currently flowing at a gross daily rate of approximately 470 barrels of oil, 875 barrels of natural gas liquids and 23,000 Mcf of gas.
The founder of Petrohawk Energy Corp. took the company from $0 to $15 billion in seven years. Here's how.
The trust also plans to sell net profits interests attributable to underlying working interests in certain fields that produce from the Cotton Valley and Austin Chalk formations in Texas and Chalkley Field in Louisiana to an undisclosed buyer for an undisclosed price.
Net production volumes in the quarter increased by 27% to 10.7 billion cubic feet equivalent (Bcfe), or an average of 116,200 Mcfe per day, versus 8.4 Bcfe, or an average of approximately 91,700 Mcfe per day in the prior year period.
The 2012 capital expenditure plan of $131 million (excluding capitalized interest expense) pending closing of liquidity transaction(s) and board approval will fund the Bakken, Niobrara and East Texas development plans.