Replies to This Discussion

Permalink Reply by whodat on August 1, 2012 at 10:11

I found the well allowables to be interesting.

WELL ALLOWABLES 
07/10/2012 thru 07/27/2012 = 6133
07/01/2012 thru 07/09/2012 = 3191
06/14/2012 thru 06/30/2012 = 2947

Permalink Reply by Matthew Kable on August 1, 2012 at 11:00

Hopefully we'll get some clear information from the company on t

Permalink Reply by tony allen on August 2, 2012 at 10:23

BML results. http://www.streetinsider.com/Press+Releases/Southwestern+Energy+Ann...

Permalink Reply by North LA on August 2, 2012 at 10:29

"The company's third well, the BML #31-22 #1-1H located in Union Parish, Louisiana, was drilled to a vertical depth of approximately 10,400 feet with a 4,300-foot horizontal lateral and was completed with 19 successful fracture stimulation stages in June. After 41 days of flowing up casing, this well's highest 24-hour producing rate to date was 421 barrels of 50 degree API oil per day, 3,900 Mcf of high Btu gas per day and 836 barrels of water per day (43% of load recovered to date) with a calculated flowing bottom hole pressure of 5,700 psi on a 24/64-inch choke. The well was shut-in on July 27 in order to perform a pressure build-up test. The company believes that it will begin selling both oil and gas from the BML well in the fourth quarter of 2012. The oil pricing the company is receiving from this area is at a premium to WTI due to the geographic location of the play, and analysis of the gas shows a Btu content of approximately 1,220 per cubic foot, so it is expected to receive a premium to NYMEX gas prices due to the richer gas liquids."

Comments?

Permalink Reply by Matthew Kable on August 2, 2012 at 11:09

The numbers are continuing to improve.

Permalink Reply by whodat on August 2, 2012 at 11:31

A few more wells like this we should have a play!!

Permalink Reply by Lee Max on August 2, 2012 at 11:37

The production up tubing will be a strong number.

Permalink Reply by G Meaux on August 2, 2012 at 15:08

Can you help a novice out on what the production up tubing could be?

Permalink Reply by tony allen on August 2, 2012 at 12:33

North,

Does 421 Bopd and 3900Mcf = 1071Boe?

Permalink Reply by Matthew Kable on August 2, 2012 at 13:02

I think that's right.

A thousand cubic feet of natural gas -- notated as 1 mcf -- contains about one-sixth of the energy content of a barrel of oil. So 6 mcf of gas equals 1 BOE.

So, 3900 Mcf = 650 Boe

Permalink Reply by tony allen on August 2, 2012 at 13:37

Thanks Matthew,

So the BML had twice the Boe of the Garrett well. I hope it keeps doubling.

Permalink Reply by Rock Man on August 2, 2012 at 14:06

Just need to keep in mind that BOE related to gas conversion to BOE has a very different price than a true BO. 

Using today's posted prices of $88.91 per BO and $3.171 per MCF, the true "value" conversion is really about 28 MCF per BO.

So 3900 MCF would be 139 BO plus 421 BO to give you a 560 BO "Value" Equivalent per day.

Really looking forward to seeing the decline rates associated with these wells - that will be the key to the overall economics and future of this play (IMO)

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