Gulftex Operating has completed negotiations with The Williams Companies, Tulsa, Oklahoma for additional acreage in the most prolific core area of the Barnett Shale. Talks were centered on Denton county tracts jointly held with Williams. Gulftex Operating, Inc. is actively drilling and operating wells in the Barnett Shale core area of Denton County, Texas. Most recently Gulftex Operating, Inc. has worked with Crusader Energy Group Inc. (Amex: KRU) Oklahoma City, Oklahoma and XTO Energy (NYSE:XTO) Fort Worth, Texas completing the McClendon #2-H.

Gulftex Operating, Inc. plans at least 4 additional wells in 2009 targeting the core area of the Barnett Shale. Plans include an offsetting Frenchtown #2-H in 2009 and others. "A key factor in our agreements with companies like XTO Energy and The Williams Companies", according to Gulftex Operating, Inc. CEO, Tim Burroughs, "is our success record and care in selecting top completion contractors that can provide the experienced oversight, critical to insuring optimal production and economic drilling. With lower gas prices, experience can make all the difference in the outcome. We want to be the lowest cost producer in the field."

Tim Burroughs, CEO of Gulftex Operating, Inc. notes, "Gulftex drilling operations alone produce income and jobs for over 150 local suppliers. Generally speaking, over $1 million will be invested locally in each well completed. Gulftex Operating, Inc, continues to contribute millions to the local economy through the years, as our wells successfully produce oil and gas. Communities receive taxes and fees, landowners receive royalty checks and local businesses continue to earn income providing necessary services to keep the wells producing and energy flowing. The exploration and production of the Barnett Shale formation is critical to the local economy, directly and indirectly effecting every family in the region. We are always looking for new opportunities in the Barnett Shale and markets for our natural gas production."

Tags: Gulftex Operating, Inc.