Tuesday, August 10, 2010

EOG Resources, Inc. (EOG): Niobrara Shale Update

By Andrea: http://oilshalegas.com

EOG Resources, Inc. (EOG), released an update on their activity in the Niobrara Shale:

August, 2010: We also have some new data on our Colorado Niobrara play. We've completed two additional wells, the Critter Creek #02-03H and #04-09H, and they're producing at managed restricted rates of 570 and 600 barrels of oil per day, respectively. We have 100% working interest here. We have four rigs running in this play. But as we've previously stated, we want to observe production from these and earlier wells until year end, before we make a reserve estimate because the reservoir is heavily fractured. In Southwest Kansas, we also recently completed two nice shallow vertical wells with 100% working interest. The Cynthia 35-1 IPed at 1,700 barrels of oil per day, and the Brookover 8-2 well IPed at 260 barrels of oil per day. Several offsets to these wells are planned for the second half of the year.

For more shale updates, visit: http://blackberrystocks.blogspot.com

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