Quicksilver Resources (KWK) issued an update on the company’s Permian Basin development program, where it has 105,000 net acres of leasehold.
Quicksilver Resources recompleted the Price Ranch #1 well in Pecos County, Texas, into the Bone Springs with a 1,500 foot lateral and six hydraulic fracturing stages. The well produced at an initial rate of 300 barrels of oil equivalent (BOE) per day with an 80% crude oil composition. The ten day production rate on the Price Ranch #1 well was 200 BOE per day.
Quicksilver Resources plans to drill and complete future Permian Basin wells with laterals from 6,000 to 7,500 feet and a minimum of 20 hydraulic fracturing stages. The company’s acreage is located across the Midland and Delaware sub basins in West Texas and is prospective for the Bone Springs and Wolfcamp plays.