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SM Energy Co., Denver, (fka St. Mary Land & Exploration Co.) (NYSE: SM) reports the Potato Creek 3H targeting the Pennsylvania Marcellus shale had initial production of more than 7 million cubic feet of gas equivalent per day.
This is SM Energy’s second Marcellus well in McKean County, which began producing to sales in early August at a facility constrained gas production rate.
KeyBanc Capital Markets Inc. senior managing director Jack Aydin analyzed the well results in an Aug. 24 research note. He says, “We believe this is a strong rate from this portion of the play and provides the company with a valuable data point in marketing its position.”
SM has leased or optioned approximately 42,000 net acres in McKean and Potter counties and originally planned to drill four horizontal wells in 2010; two each in McKean and Potter counties. The company delayed starting the program until June due to capex issues.
SM Energy has oil and gas assets primarily in the Ark-La-Tex, the Midcontinent, the Gulf Coast, the Permian and the Rockies regions.
