Arena Resources Inc. drilled 36 new wells in the third quarter of 2006, the company said recently in an operations update.
The Tulsa-based oil company drilled 27 wells on its Fuhrman-Mascho lease in Andrews County, Texas. Five wells were drilled on the East Hobbs lease in Lea County, N.M., two were drilled on the Seven Rivers Queen lease in Lea Countyand one each was drilled in the Eva South lease and the Ona Morrow lease, both in Texas County.
Production for the quarter was about 295,000 barrels of oil equivalent, up 109 percent from 141,205 barrels in the third quarter of 2005. Oil and gas revenues for the quarter are estimated at $17.9 million, up from $7.9 million in the year-ago period.