In January 2016, BTU Analytics took a look at Southwestern Energy’s latest efforts i..., which lies underneath the Fayetteville Shale in Central Arkansas.  The finding at the time was the Moorefield wells were putting up initial production (IP) rates that were comparable, and in some cases, superior to Fayetteville shale well IP rates in the same area.

Since that time, Southwestern Energy (NYSE: SWN) has increasingly been promoting the potential of the Moorefield shale in earnings calls and investor relations material.  In the Q1 2017 SWN earning conference call held at the end of April 2017, the Moorefield shale was a hot topic, with seven out of the 13 analysts asking questions about the Moorefield.  “Moorefield Shale” was mentioned 19 times during the call.  In addition, in the May 2017 SWN investor presentation, two slides were dedicated to the Moorefield as shown below in a slide highlighting Moorefield well performance.

While we are still in the early rounds of Moorefield activity, some results appear promising.  As is typical in early stages of a prospective play, the industry has to glean information from the producers active in the new play while waiting for additional state level production data to be reported through various public agencies.  This is exactly the case for the Moorefield, as SWN reports in their May 2017 presentation that since mid-2015, 13 Moorefield wells have been turned to sales, and a recent 7-well pad is showing further promise (as mentioned in the slide above). 

https://btuanalytics.com/southwestern-energy-seeing-success-moorefi...