Far East Energy Corporation is pleased to provide an update on operations.
Since the last release of October 30th, the company has fraced 7 additional wells, of which 6 are production wells and one an appraisal well, bringing the total number of wells fraced so far this year to 65. Of this combined total, 57 are production wells and 8 are appraisal wells.
The company is continuing to drill new wells with 5 wells in the process of being drilled, one of which has been completed and is awaiting perforation.
Commenting, CEO Mike McElwrath said, "In the first seven days of November, our field team fraced wells at a rate of one well per day while preparing additional wells for the fracing and pumping process. And since mid-June when the first new wells began pumping, water production in the 1H Production Area has increased by approximately 96%. The hard work of this year is now evident across much of the core production area, as we see initial gas in an increasing number of wells."