Atlas Energy Remarks on Remarkable Verticals

Atlas Energy Resources announced today the completion of five new vertical wells with a two stage frac process that is resulting in average 24 hour IP rates of 2.1 mmcfd. Previously, with the exception of a Fayette county vertical at 3.6 mmcfd, Atlas' most recent verticals were yielding an average IP of 1.3 mmcfd. The new technique also appears to be resulting in a shallower decline rate than prior efforts.

The company also announced that its second horizontal has been cased and is awaiting an eight stage frac, while its third and fourth horizontals have been spud.

Press Release