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Gulftex Operating, Inc. announces new gas contracts for the Bartonville Pipeline System

By patkennedy on September 15, 2009 United States of America

187

The Bartonville Pipeline System (BPS) is pleased to announce that XTO and GGG have signed gas gathering contracts, and is ready to deliver gas into the system with 4 new wells called the Fuller Unit.


FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 15, 2009 -- For Immediate Release:

July 31, 2009 – Dallas, Texas – Gulftex Operating, Inc. announces new gas contracts for the Bartonville Pipeline System and Gaedeke Gulftex Gathering LLC (GGG)

The Bartonville Pipeline System (BPS) is pleased to announce that XTO and GGG have signed gas gathering contracts, and is ready to deliver gas into the system with 4 new wells called the Fuller Unit, the Leroux North, the Leroux South, and the Red Hot. These wells are all drilled, completed and fraced and look to be good producers. The extension line for these additional wells has now been connected to our existing pipeline infrastructure.

GGG also anticipates several new wells from XTO to connect into the BPS system in the 3rd and 4th quarters of this year in addition

Gulftex Operating, Inc. announces new gas contracts for the Bartonville Pipeline System

to several new wells from other companies such as Williams Gulfcoast Production, Inc., Red Oak Capital, Inc., and Braden Exploration, Inc.

ABOUT GULFTEX OPERATING, INC.

The Gulftex Operating, Inc. has a primary focus on the development of conventional and unconventional resource plays which includes the application of horizontal drilling and cutting edge completion technology aimed at developing shale and tight sand reservoirs. The Gulftex assets are located in various domestic basins, the majority of which are in the Ft. Worth Basin, Barnett Shale.

For other information regarding Gulftex Operating, Inc., please visit the Company's Internet Web site at http://www.GulftexOperating.com.

FORWARD-LOOKING STATEMENT DISCLOSURE



This press release contains "forward-looking statements" within the meaning of the Federal securities laws and regulations. Forward-looking statements are estimates and predictions by management about the future outcome of events and conditions that could affect Gulftex's business, financial condition and results of operations. We use words such as, "will," "should," "could," "plans," "expects," "likely," "anticipates," "intends," "believes," "estimates," "may," and other words of similar expression to indicate forward-looking statements.

There is no assurance that the estimates and predictions contained in our forward-looking statements will occur or be achieved as predicted. Any number of factors could cause actual results to differ materially from those referred to in a forward-looking statement, including drilling risks, operating hazards and other uncertainties inherent in the exploration for, and development and production of, oil and natural gas; volatility in oil and natural gas prices, including the adverse impact of lower prices on the amount of our cash flow available to meet capital expenditures, our ability to borrow and raise capital and on the values attributed to our proven reserves; drilling and operating risks in the unconventional shales and other reservoirs in which we operate, including uncertainties in interpreting engineering, reservoir and reserve data; the availability of technical personnel and drilling equipment; the timing and installation of processing and treatment facilities, third-party pipelines and other transportation facilities and equipment; changes in interest rates; and increasing production costs and other expenses.

Further information on risks and uncertainties affecting our business is described under Risk Factors are available in our reports filed with the SEC which are incorporated by this reference as though fully set forth herein. We undertake no obligation to publicly update or revise any forward-looking statement.

SOURCE: Gulftex Operating, Inc.


Respect the copyrights of the authors by republishing the entire press release as it is with no changes.

About the author

  • Name: Gulftex Operating, Inc.; CEO - Tim Burroughs

    Email: ***@qulftexoperating.com

    Website: http://www.gulftexoperating.com


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