SWN presented yesterday at the Credit Suisse Conference in Vail, CO. Steve Mueller said the Sharp 22 vertical well in Union Parish is still producing 500 bbls oil (condensate?) per day and 2 million cubic feet of gas per day, and will give an 80% return on investment at $80/bbl oil. He said they will probably know by summer if they have a commercial play, at least in Union Parish. He also re-iterated that he expects this will ultimately be a horizontal play. In 2014 they will drill 9 more wells around the Sharp, but also 5 more step-out wells, so they apparently have not given up on the outlying acreage. The transcript is still available at the SWN website under "Events and Presentations". The Brown Dense discussion is from the 21-min to 22:50-min portion.The following link may also take you to it:
http://cc.talkpoint.com/cred001/021014b_jw/?entity=6_PREH66C
SWN also posted a new Brown Dense map yesterday, but it is still a little out of date. It is on page 13 or 14 of this link:
http://www.swn.com/investors/LIP/latestinvestorpresentation.pdf
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To me this tracks with SWN's recent announcement on formation of 4 drilling units proximate to Sharp 22 and with the 3D Seismic exploration that will be going on early summer in the area.
I should have said the replay of the webcast is still available, not the transcript.
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Posted by Char on May 29, 2025 at 14:42 — 4 Comments
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