Red Mountain Resources, Inc. announced the following operational update.
MADERA AREA (Lea County, NM)
RMR has seven producing wells in the Madera Area, one disposal well and one well awaiting completion.
RMR's seventh producing well (third horizontal) in the Madera Area, the Madera 19 Federal 4H, was completed using a 27-stage fracture stimulation over a perforated lateral length of 6,813 feet in the Brushy Canyon zone with a total measured depth of 15,843 feet. The well achieved a 24-hour IP rate of 740 BOE/d (86% oil) and a 15-day average rate of 666 BOE/d (84% oil). RMR owns approximately 84% working interest and 63% net revenue interest in the well.