I wish I could tell you where this is. East Texas is a big place!
|Feb 20, 2018|
|PetroQuest Energy Announces Results on Latest Cotton Valley Wells|
LAFAYETTE, La., Feb. 20, 2018 (GLOBE NEWSWIRE) -- PetroQuest Energy, Inc. (NYSE:PQ) announced today its latest results from its horizontal Cotton Valley drilling program in East Texas. The Company recently completed two wells (PQ #29 - 52% NRI and PQ #30 - 59% NRI) which established a cumulative maximum 24-hour gross daily rate of 18,385 Mcf of gas, 1,354 barrels of NGLs and 55 barrels of oil, for an equivalent rate of 26,839 Mcfe/d. The initial maximum 24-hour gross daily rates and certain additional operating data per well were as follows:
The Company estimates these two wells had an average drill and complete cost of $887 per lateral foot. The Company is in the process of evaluating various joint venture structures in connection with planning its 2018 Cotton Valley drilling program.
About the Company
We have a horizontal CV well in Red River parish that was a real good producer. I asked a QEP guy the other day why they didn't drill more and he said they made a lot of water. Wonder if these are different.
The Cotton Valley is water prone. And dealing with the cost of water is a big expense. Still that doesn't stop Range (and MRD and Wildhorse before them) or Indigo from drilling CV/LCV wells. Landing a CV lateral is more challenging than a HA lateral. The CV varies in porosity and permeability across E TX and N LA. Where it is "tight" (low perm) horizontal wells may be economic. Where it is not tight, horizontal wells are not economic but vertical wells may be.
The PQ #29 is the Wiener-Owen PSA 4 #4H well, API # 42-365-38331, SL located in the J. B. Owen Sur., A-520, and BHL in the A. Johnson Sur., A-360. The PQ #30 is the Wiener CV #1H well, API # 42-365-38351, SL located in the P. R. Wilson Sur., A-750, and BHL in the S. W. Mimms Sur., A-449, in the easternmost part of Panola County, Texas. Both are in the Carthage (Cotton Valley) Field, near the Deadwood area not far from the Louisiana line. They are both off of C.R. 321, and the PQ #30 is also close to FM 2517.
10-4 thanks! was kind of thinking it was somewhere near there.
Farther to the southwest from Panola County, O'Benco (Shreveport company) has recently completed three big Cotton Valley gas wells in Robertson County. Here are the monthly gas production figures as taken from the Texas RRC site: