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Permalink Reply by Les Bamburg on March 4, 2010 at 3:48

Diane, information indicates the following well spud on 2/5/10:

Chesapeake, SMS 32 #H1 Well, Serial #240736, S32-T15N-R14W, DeSoto Parish, Caspiana Field

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Permalink Reply by Diane Bolen on March 4, 2010 at 3:51

Shouldn't they be at the bottom by now?

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Permalink Reply by FXEF on March 4, 2010 at 4:11

Diane, 30 days is a little quick for most wells. Many wells are drilled in 45 to 60 days now, however it could take as long as 90 days, just depends on the rig and if they encounter problems. Every well is a little different. They will be down and moving to another site as soon as they reach bottom, they're not "milking" the job.

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Permalink Reply by w.r. frank on March 4, 2010 at 5:13

Diane,

Many operators say they are AVERAGING 40 to 45 days to DRILL wells to TD and release the rig. However, there remains the COMPLETION of the well. Completion is a little more dicey. Some operators may delay completion because of a lack of capacity in the pipeline or current NG pricing. Finally, completion services are getting more difficult to schedule, as well as more costly. XCO seems to do a better job than most of fracing and connecting to a pipeline, partly because it is mostly HBP now and has existing infrastructure--and a good team in the field.

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Permalink Reply by Diane Bolen on March 4, 2010 at 5:26

Thanks for the info, guys! I didn't realize it took so long. I guess we'll have to wait a little longer for our "$$$MONEY$$$".

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Permalink Reply by FXEF on March 4, 2010 at 5:44

Yep, and division orders and royalty checks don't seem to be very high on the operators priority list.

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