Abraxas Petroleum Corp.'s Gisler #1 exploratory well in Karnes County, Texas, is currently producing a healthy supply of natural gas, the company said Wednesday.
The Gisler #1 well was drilled vertically to a total depth of 13,000 and placed online two weeks ago. The well is currently producing at a rate of 2.9 million cubic feet of gas and 55 barrels of condensate per day.
The company owns a 63 percent working interest in the well. The Gisler #1 was drilled targeting the Wilcox formation.
Abraxas President and CEO Bob Watson says the production rates for the Gisler #1 well are above their expectations.
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