Question-and-Answer Session
Operator
(Operator Instructions) Our first call comes from Michael Jacobs – Tudor, Pickering, Holt & Co.
Michael Jacobs – Tudor, Pickering, Holt & Co.
I'm trying to reconcile average economics in the Feds on the context of better IPs and EURs with respect to down spacing. Going forward should we apply different spacing assumptions to areas with higher or lower EURs?
Steven L. Mueller
I don't know if there are necessarily areas with higher or lower EURs. If you look at what we've done in the last 12 months, there's 3 million a day, across wells, across entire acreage that we've been drilling on. There's certainly though a scatter in wells as you drill. I'm not going to say they're all 3 million a day. You get all kinds of scatter even near some of the better wells. So I'm sure exactly what average you should use. I think the key point is that we're continuing to learn, as we learn both the EUR and rates going up.
Michael Jacobs – Tudor, Pickering, Holt & Co.
And if I can move to East Texas, pretty impressive rates, can you share the cost of the St. Augustine well and then put that in the context of targeted costs for East Texas and how you drive down costs over time?
Steven L. Mueller
And you're talking about the Haynesville, there?
Michael Jacobs – Tudor, Pickering, Holt & Co.
Yes.
Steven L. Mueller
The first two wells had a lot of science with them. We drilled vertical first, cored them, did all kinds of other things. They're well past $10 million. The third well that we just recently TDed, we have got pipe run, it's a 4,000 foot lateral and we're a little less than $5 million to date. So we think we're going to be getting that done in somewhere between $9 million and $10 million.
And that's the range I think that starts talking like some of the other operators are doing on the Louisiana side. There will be some more that we can take out of it, but we've already learned a lot and we've taken a lot out in the first three wells.
Operator
Our next question comes from Robert Christensen – Buckingham Research.
Robert Christensen – Buckingham Research
First question again is a Haynesville question, how are you selecting your positioning of these wildcat attempts? What goes into that decision making?
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