The Crosby 12H-1 well in Wilkinson County posted initial 24-hour average flow rates of 1050 barrels of oil and 469 mcf of gas per day.
Global Hunter Securities dubbed the probe "the best well in the TMS to date," beating Encana's Anderson 17-H well which came online at 1082 boepd, according to the investment firm.
"This should help quiet the critics of the play," Global Hunter said in a note, but to calm further concerns the companies need to rest doubts about diminishing production and show that drilling costs will stay far below the $15 million mark.
Goodrich
