Question-and-Answer Session
Operator
(Operator instructions) And our first question will come from the line of Kim Pacanovsky - Collins Stewart.
Kim Pacanovsky – Collins Stewart
Could you give us some details on the El Paso wells, the number of stages, the choke etc?
Mack Good
Sure Kim. This is Mack, the well was drilled to 16,100 foot measured depth with an approximate 4000 foot lateral. It was stimulated in 10 separate stages and it flowed 14 million a day with a little over 4000 pounds flowing casing pressure on initial test and our report is of yesterday it’s continuing to flow at plus $8 million a day rate.
Kim Pacanovsky – Collins Stewart
Okay. And you just have a tiny bit of acreage in that region is that correct?
Mack Good
Actually no.
Kim Pacanovsky – Collins Stewart
Okay that’s in Bethany-Longstreet. What you are acreage there?
Mack Good
In Bethany-Longstreet, we have at least three sections of Haynesville.
Kim Pacanovsky – Collins Stewart
And what is your total acreage at Logansport and also your total acreage just in De Soto, Parish,
Mack Good
De Soto, Parish were over 30,000 net acres well over 30,000 and Logansport it’s probably around 3000 acres Kim.
Kim Pacanovsky – Collins Stewart
Am I correct that your well, the Collins well in Logansport will be the first completion in that field in the Haynesville?
Mack Good
Yes. On a horizontal well
Kim Pacanovsky – Collins Stewart
Yes, okay great. And the two well in the budget for South Texas are they the two wells at Leyendecker that are drilling now, will those wells spud after year-end?
Mack Good
It is the Muzza#13 and the Trevino#3 they were spud late in ?08 and early ?09 and so it’s carry over money for those wells and we also have a couple of wells in the budget for our assets in Kennedy County.
Kim Pacanovsky – Collins Stewart
Okay. And a couple of questions on the numbers. Thank you Mack. Roland how do you determine the amount of interest you will capitalize and what should we expect, what should we be considering in our models going forward for ’09?
Roland Burns
The interest that we have on our unevaluated properties and so even though we have always capitalized, but that’s not been a very significant amount in the past, so that was been noticed, but since then this quarter, we have fairly large balance in the unevaluated properties, which is mainly all the Haynesville leases. And we had such low interest expense and obviously it’s a much bigger component. So, it would be as simple, we capitalized $1.7 million in the fourth quarter in interest and it probably would be a similar number in the next couple of quarters until we evaluate that acreage and move that into properties.
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