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SWN also posted a new Brown Dense map yesterday, but it is still a little out of date.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.
Shale drilling and lithium extraction are seemingly distinct activities, but there is a growing connection between the two as the world moves towards cleaner energy solutions. While shale drilling primarily targets…
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AboutAs exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More |
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