Dune Energy provided an exploration and development operations update on its leased acreage in Texas and Louisiana. The update reported successful wells at several locations.
On its Texas acreage, the Wieting #32 well was drilled to a total depth of 12,750 feet, and hit 50 feet of gas bearing sands. The well is located in the Chocolate Bayou Field in Brazoria County and will be completed by November 2009. The well is non-operated by Dune Energy, but the company does have a 50% working interest.
Dune Energy has one well currently drilling in Louisiana, and plans one more before the first quarter of 2010. The company will also conduct several workovers of wells on its acreage here.
Dune Energy has total proved reserves of 132.9 Billion cubic feet (Bcf) equivalent, including 83.8 Bcf of natural gas and 8.2 million barrels of oil. Its properties are located in the Gulf Coast area of the United States, where it controls 104,553 gross acres in 23 different fields.