http://seekingalpha.com/news-article/8032362-southwestern-energy-an...

HOUSTON, Oct. 31, 2013 /PRNewswire/ -- Southwestern Energy Company(NYSE: SWN) today announced its financial and operating results for the three months ended September 30, 2013. Highlights include:

  • Record gas and oil production of 172.4 Bcfe, up 19% compared to year-ago levels
  • 2013 production guidance raised to 653 to 655 Bcfe, up from 643 to 651 previously
  • Adjusted net income of $179.8 million, up 36% compared to year-ago levels when excluding unrealized net gains and losses on derivative contracts and non-cash ceiling test impairments of natural gas and oil properties (a non-GAAP measure reconciled below)
  • Record net cash provided by operating activities before changes in operating assets and liabilities of approximately $526.7 million, up 26% compared to year-ago levels (a non-GAAP measure reconciled below)
  • Marcellus Shale production up 196% compared to year-ago levels; gross operated production surpasses 600 MMcf per day; additional firm transportation capacity secured currently totals over 1 Bcf per day by year-end 2015
  • Record well initial production rate of 10 MMcf per day in theFayetteville Shale
  • Vertical well in Lower Smackover Brown Dense exploration program produces 600 barrels of oil per day

Could be game changer?

Views: 9180

Replies to This Discussion

Wow! Sounds like this could very well be a game changer if it can be duplicated over a larger area. This Sharp well seems to be at or near payout after only 3 months!

YES - definitely an encouraging development, that is...

If you rely on him, you will be like him.  

This is an excerpt from the Seeking Alpha piece about SWN in the Smackover Brown Dense. Sounds like Good News.


Vertical well in Lower Smackover Brown Dense exploration program produces 600 barrels of oil per day

New Ventures In the Lower Smackover Brown Dense project located in southern Arkansas and northern Louisiana, the company has drilled ten operated wells in the play area to date, five of which are currently testing or producing, one is waiting on completion and one is drilling. The most recent well placed on production was the company's Sharp 22-22-1 #1 vertical well in Union Parish, Louisiana, which was drilled to a total vertical depth of 9,776 feet and was completed with 3 stages. The company is encouraged by initial flow rates from this well which achieved a peak 24-hour production rate of approximately 600 barrels of condensate and 1.3 MMcf of 1,240-Btu gas per day. After 88 days, the well is currently producing approximately 530 barrels of oil and 1.1 million cubic feet of gas per day on a 16/64-inch choke. The company's Hollis 27-22-3 #1 vertical well in Union Parish was drilled to a total vertical depth of 11,429 feet and was completed with 3 stages and has recently begun flowback. The company drilled the Dean 31-22-2H Alt horizontal well in Union Parish in April to a total vertical depth of 10,055 feet with a lateral length of 3,172 feet. Additional testing in this well is planned in the second quarter of 2014. The company's McMahen 19-21 #1-7 vertical well in Columbia County, Arkansas, was recently drilled to a total vertical depth of 11,365 feet and is expected to be completed with 3 to 4 stages in November. Southwestern has also spud another vertical well, the Plum Creek 13-23-2 #1V, in Union Parish, Louisiana in late-October.

are they still just flaring all that gas?

yes, as of a week ago.

Tony, how do you put the pieces of this puzzle together against Skip? He had his opinion and you have yours. I have always rooted for the Louisiana Plays but maybe I am a greedy landman because I like to work close to my house. I have seen many others here on GHS that wanted to wish their way into the productive plays only to be let down by the poor quality of the formation under their mineral interest. It takes all of us pulling together to make GHS work. The free flow of information has made GHS work and Skip has spent many hours working for its success. I am sure that Skip would be one of the first that would have wanted the LSBD to work out but didn't wait for enough wells to be drilled over the vast area to form a conclusion. That is just human nature .

Skip is honest and I believe that any opinion he may have given was steeped in the facts available at the time.  Hindsight is always 20/20.  And everyone who has hopes in a particular area believes that that area will be the best one around.  

I am very happy for the people that will reap the benefits from the Brown Dense, but if you are questioning Skip's honesty then you are quite mistaken.

Thanks Tony for your thumbs up as  to my reputation. That's all I have. I don't read all the posts hereon GHS and to  tell  the truth I stayed off the site for about a year or better because I was nee deep in work. I don't think that GHS is controlled in any sort of way by  the industry. GHS has been a place for O&G and the folks to fight for their side of the equation to solve their individual problems. It is a place to out the outlaws in the biz that may make me look bad in what I do. These outlaws make my job a lot harder. I don't feel that Skip is an outlaw. He does use GHS to help in his biz and am sure he has helped many of the lessors to secure a better deal. I for one wouldn't use advice given on a web site to make a deal with an O&G company and Skip has said the same through the years by telling the folks to hire a O&G attorney.

Thanks, TDP.. I agree with the lawyer quote. As far as the outlaw opinion, I disagree.... but that is the great thing about GHS. Even Mr. Peel agreed that no company wants to be discussed on this site and I agree with him on that issue.

I am not into censorship as long as there is no personal attacks that use derogatory language. Some  have been kicked off for no reason other than voicing their personal opinions. GHS needs to correct this and give the OK for these folks to come back. The censorship of some have left me thinking that maybe all things are not equal here on GHS.

Hey, Please back off Skip.  He is trying to give us his best estimate as to the progress, potential, & future of the Lower Smackover Brown Dense, & to his credit most of posts have be solicited by other members.  Let's get out of the personality,  score keeping, & name calling business & all work together to make this fine web site a place where harmony prevails.  It is no place for malice & finger pointing but is a an ideal vehicle for all of us to post our ideas, research, information, hopes & disappointments without the fear of our character & expertise being questioned over every comment & reply we submit.

     I do not know Mr. Peel or anything about him, but I do know that this LSBD site would not be as popular, informative, or successful as it is without the knowledge, insight, & professionalism that he has contributed & shared. 

 

RSS

Support GoHaynesvilleShale.com

Not a member? Get our email.

Groups



© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service