The Word is OUT!!! Chesapeake tells ALL!!!
Here is part of of an article out today at 4:43 pm ET OKLAHOMA CITY & HOUSTON--(BUSINESS WIRE)--
“We have achieved outstanding drilling results in the play to date and believe Chesapeake’s expertise in developing shale plays provides us with an opportunity to see even better results in the months and years ahead. The initial production rates on the eight horizontal wells we have completed have ranged from 5 to 15 million cubic feet of natural gas equivalent (mmcfe) per day on restricted chokes at flowing casing pressures of up to 6,500 PSI. We believe these truly exceptional wells would have been capable of even greater initial production rates if produced on open chokes as Barnett and Fayetteville Shale wells commonly are produced. These production rates and flowing casing pressures, along with our geoscientific and petrophysical analysis of over 70 wells that have penetrated the Haynesville Shale to date, give us confidence that our mid-point EUR estimate of 6.5 bcfe for the Core Area of the Haynesville Shale is currently appropriate. This compares quite favorably to our Barnett Shale Core Area EUR average range of 2.5-3.0 bcfe and our Fayetteville Shale Core Area average range of 2.2-2.8 bcfe. To date, our costs to drill and complete horizontal Haynesville Shale wells have averaged approximately $6.5 million and we anticipate that we will be able to reduce these costs by at least 10% once full-scale development of the play is underway based on other shale play experience.
We have waited for this news for a long time!!!
“We have achieved outstanding drilling results in the play to date and believe Chesapeake’s expertise in developing shale plays provides us with an opportunity to see even better results in the months and years ahead. The initial production rates on the eight horizontal wells we have completed have ranged from 5 to 15 million cubic feet of natural gas equivalent (mmcfe) per day on restricted chokes at flowing casing pressures of up to 6,500 PSI. We believe these truly exceptional wells would have been capable of even greater initial production rates if produced on open chokes as Barnett and Fayetteville Shale wells commonly are produced. These production rates and flowing casing pressures, along with our geoscientific and petrophysical analysis of over 70 wells that have penetrated the Haynesville Shale to date, give us confidence that our mid-point EUR estimate of 6.5 bcfe for the Core Area of the Haynesville Shale is currently appropriate. This compares quite favorably to our Barnett Shale Core Area EUR average range of 2.5-3.0 bcfe and our Fayetteville Shale Core Area average range of 2.2-2.8 bcfe. To date, our costs to drill and complete horizontal Haynesville Shale wells have averaged approximately $6.5 million and we anticipate that we will be able to reduce these costs by at least 10% once full-scale development of the play is underway based on other shale play experience.
We have waited for this news for a long time!!!
Views: 143
Replies to This Discussion
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Permalink Reply by Cecil on
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I have some land near mt lebanon 17-18N, 7W and am wondering if there is any chance the field is extending this far East ??
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Permalink Reply by Snake Stewart on
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Hello Pam , Part of the acreage he is refering to is HBP.Some in Texas and Louisiana.As too how much I really don't know.Previously leased land will probably account for more then half of this total.
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Permalink Reply by Les Bamburg on -
Pam, my count is up to ~ 2.0 million acres by the top 20 companies but this keeps increasing by the day.
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We will only know for sure when all the pipes have stopped! Good Luck and have a great 4th!
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Permalink Reply by Duster on
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Hi Les,, Some friends and I may lease in North Red River by the end of the month. I started a list of the companies leasing. Do you have a list that would save me some work. Thx in advance
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Permalink Reply by Les Bamburg on
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Duster, I have a list of the O&G companies with acreage in the HS but do not necessarily know which of those are actively leasing. Given you are in N RR I would start with EnCana, Chesapeake, Petrohawk, Questar, XTO and maybe also EOG. These companies are all fairly large and have a track history of drilling wells in non-conventional reservoirs.
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Permalink Reply by Keith Mauck (Site Publisher) on
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an oldie but goody
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