Gasco Energy, Inc. issued an operational update on the company’s oil and gas exploration and development program. The company is active in the Rocky Mountain region in the United States.
Gasco Energy, Inc. is currently focused on the Riverbend project located in the Uinta Basin in Utah. The company is targeting several different formations, including the Wasatch, Mesaverde, and Mancos zones.
Gasco Energy, Inc. began a program to recomplete wells at the Riverbend project in February 2010. The company has recompleted sixteen gross wells since then, with five gross wells recompleted during the third quarter of 2010.
Gasco Energy, Inc. said that on a net basis, the company has recompleted 6.47 net wells at the Riverbend project since February 2010, including 1.67 net wells during the third quarter of 2010.
Gasco Energy, Inc. reported total net production during the quarter ending 9/30/2010 of 1.1 million cubic feet equivalent. This was a 6% increase on a year over year basis, but a 4% decline from the previous quarter.
Gasco Energy, Inc. currently operates 133 gross wells, and does not have any drilling rigs under contract at the current time.
For more information on the company, go to www.gascoenergy.com
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