Unit Corporation (UNT) reported on its Granite Wash activity during the first quarter of 2011, where the company is active in developing various intervals on its acreage in Texas.
Unit Corporation reported the completion of five Granite Wash wells with average production during the first thirty days of 6 million cubic feet of natural gas equivalents per day. The production was composed of 16% oil, 33% natural gas liquids and 51% natural gas.
Unit Corporation said the wells were completed in various Granite Wash intervals including one each into the Granite Wash A, D and F zones, and two into the Granite Wash B zone.
Unit Corporation plans to operate between 3 and 4 rigs in 2011, and spend $82 million in capital to drill between 20 and 22 horizontal Granite Wash wells in 2011.