GMX Resources Inc. has completed its first well in North Dakota's Middle Bakken formation, the Oklahoma City company announced this week. The Basaraba well, GMX's eighth operated well in the area, produced an average of 875 barrels of oil a day over its first five days of operation. GMX plans to complete its ninth North Dakota well later this month, with drilling under way on the company's 10th well. GMX President Michael Rohleder said the company is working to improve its drilling practices to maximize its rate of return.
From Staff Reports