President said, "I am very encouraged with the results of our developmental drilling programs in the Permian Basin and the Austin Chalk areas.
NASDAQ:CWEI) today provided an update on its ongoing developmental drilling programs in the Permian Basin and Austin Chalk, two of its core oil-producing areas.
Net proceeds will be used to continue developmental drilling programs
in Woodson County, Kansas.
North Coast president, Garry Regan commenting on the formation of '94-1 noted that, "This project to drill 23 wells puts our drilling schedule ahead of last year's pace and represents one of the earliest formations for our developmental drilling programs.
94-1 is the first of three planned developmental drilling programs sponsored by North Coast Energy in its Appalachian Basin area of interest.
Hemi and Wilshire will expand its working relationship, when due diligence is completed, to pursue strategic acquisitions of oil and gas producing properties and implement expansion of ongoing developmental drilling programs
The Company will initiate developmental drilling programs
to drill new wells on these leases and, if successful, will add oil and gas reserves to the acquired property.
Peter's extensive experience and expertise is a valuable addition to our team as we work toward transitioning our existing core projects from the science and research drilling phase into developmental drilling programs
the "Company") (NASDAQ:CWEI) today provided a review of its ongoing developmental drilling programs in the Permian Basin and Austin Chalk (Trend), two of its core oil-producing areas, for 2009 and its outlook for 2010.
President and Chief Executive Officer of the Company, commented, "I am very pleased with the progress of our developmental drilling program.