January 25, 2010 (FinancialWire) — Crimson Exploration Inc. (NASDAQ: CXPO) said it has signed drilling contracts for two rigs to be used for part of its 2010 capital program. Both rigs will be working in Texas; one in the San Augustine/Sabine area of east Texas and the other in Liberty County in southeast Texas.

Crimson secured a rig contract with a one year term that will allow continued development of its acreage position in the Haynesville/Mid-Bossier shale plays in San Augustine and Sabine counties. Delivery of the 1,500 hp rig is currently scheduled for March 1, 2010. The company anticipates drilling four to five wells in this area with this rig.

The company also secured a rig contract for a continuous two well commitment in Liberty County, with anticipated delivery by late-January 2010. The two wells planned for this rig will likely be drilled during the first half of 2010 and will target the Cook Mountain and Yegua formations.

Houston-based Crimson Exploration is an independent energy company engaged in onshore oil & gas exploration and production in South Texas, East Texas and the Upper Gulf Coast.

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