Wednesday, November 21, 2012

Monthly Production Update on GMX Resources Wells ($GMXR)

New North Dakota production numbers were just posted for some of the GMXR Bakken wells.

For the six wells with the most production data (~6 months), the most recent month-over-month production decline was 5.5%. (A 50% annualized decline rate.)

The AKOVENKO 24-34-1H, which had an IP of 1409 is now producing 115 bbl/d. For the first time, we also see the dismal new Fairfield State well.

See my earlier posts:

Initial Production Numbers for GMXR Wells are Basically Irrelevant ($GMXR)
More Skepticism of Initial Production as a Metric

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