Question-and-Answer Session
[Operator Instructions]. And your first question comes from the line of Carl Kirst with BMO Capital.
Carl Kirst - BMO Capital Markets
Hey, Good morning everybody.
Charles W. Porter - Jr.Vice President, Chief Financial Officer and Treasurer
Morning, Carl.
James T. McManus, II - Chairman and Chief Executive Officer
Good morning.
Carl Kirst - BMO Capital Markets
James, let me start kind of at the end. I know you guys can't say lot much more then what you have said in the press release, but you might be able to just clarify this for me. In the three wells where you found gas are you seeing both formations at Conasauga and Chattanooga or is each well targeting a specific zone.
James T. McManus, II - Chairman and Chief Executive Officer
Good question Carl, I don't mind answering that question. Each one is targeting a different zone. The location of both the Conasuaga and Chattanooga shale are unique from acreage perspective they are not present in the same level. That's helps
Carl Kirst - BMO Capital Markets
Okay. Thank you very much, [indiscernible] And just with respect to the Chattanooga, I mean is it something where I guess the hope is that what you will see, what you hope to see as going to be I guess something similar that is seen in Tennessee with the Chattanooga wells or can you even mention that?
James T. McManus, II - Chairman and Chief Executive Officer
Well, all I can say is the Chattanooga's present in Tennessee, we've not really... I can't really comment on that because I don't know what kind of results have been seen up there in Tennessee. As you know, Chattanooga is a Devonian shale and really going pass that, I can't make too many comments.
Carl Kirst - BMO Capital Markets
Fair enough. Just a couple of other questions like who'd really more on the cost side of the equation. Starting perhaps with the severance taxes, I guess that's what's linked to the section 199 benefit that looked like there was kind of a spike in the percentage of severance tax. I am trying to figure out what specifically was the issue there, and is that ... is that ongoing, are we going to be basically seeing now a higher level of unit production taxes going forward?
James T. McManus, II - Chairman and Chief Executive Officer
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