Forest holds approximately 163,000 gross acres (123,000 net) in the East Texas / North Louisiana Area.
Since Forest’s last earnings release, the Company completed one horizontal Cotton Valley well (90% working interest) inEast Texas that had an average 24-hour initial production rate of 10.3 MMcfe/d, including 662 Bbls/d of oil and natural gas liquids or 39% of total equivalent production. Forest currently has two rigs running in this area focusing on the liquids-rich Cotton Valley interval.
Additionally, Forest completed one well in its Red River Parish acreage (57% working interest) that had an average initial restricted rate of approximately 9.5 MMcf/d, with flowing pressures averaging 7,800 psi. This well has averaged 8.0 MMcf/d over its first 42 producing days. Due to the current low natural gas price environment, Forest has redeployed theHaynesville rig to drill the liquids-rich Cotton Valley interval in East Texas.