Culberson County, TX - Wolfcamp Shale - Oil & Gas

By Tim - http://oilshalegas.com

Wolfcamp Shale Update - Cimarex Energy (XEC)

Cimarex Energy (XEC) provides an update on drilling for oil in the Wolfcamp Shale located in Culberson County, TX

In the fourth-quarter, four horizontal Wolfcamp wells were brought on production in southern Eddy County New Mexico (White City) and northern Culberson County Texas. The wells brought on in the fourth-quarter had first-30 day production rates averaging 6.8 MMcfe/d, comprised of 38% gas, 31% oil and 31% NGL. On average these wells have the highest oil contribution of the wells drilled to date in the Wolfcamp. For 2011 Cimarex drilled and completed 11 gross (10 net) horizontal Wolfcamp wells, bringing total wells in the play to 18 gross (16.8 net). First 30-day production from all the wells has averaged over 6.5 MMcfe/d, comprised of 44% gas, 24% oil and 32% NGL.

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Wolfcamp Shale - Devon Energy (DVN)

By Tim - http://oilshalegas.com

Wolfcamp Shale Update - Devon Energy (DVN)

Devon Energy (DVN) provides an update on drilling for oil in the Wolfcamp Shale located in the Midland Basin.

We only recently began drilling on the 92,000-net-acre Wolfcamp shale position that we have established in the Southern Midland Basin. We brought 4 Wolfcamp Shale horizontal wells online in the fourth quarter, with the best well delivering a 24-hour IP of 935 barrels of oil equivalent per day. The results of our wells, combined with industry results around our position, give us confidence and consistent economic results in this play. We are continuing to fine-tune our drilling and completion techniques and have just finished drilling our first 7,100-foot lateral, which included a 30-stage completion. This well is just starting to flow back. We'll keep you posted and updated on our progress.

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Eddy County New Mexico - Wolfcamp Shale

By Tim - http://oilshalegas.com

Wolfcamp Shale Update - Cimarex Energy (XEC)

Cimarex Energy (XEC) provides an update on drilling for oil in the Wolfcamp Shale located in Eddy County, NM

In the fourth-quarter, four horizontal Wolfcamp wells were brought on production in southern Eddy County New Mexico (White City) and northern Culberson County Texas. The wells brought on in the fourth-quarter had first-30 day production rates averaging 6.8 MMcfe/d, comprised of 38% gas, 31% oil and 31% NGL. On average these wells have the highest oil contribution of the wells drilled to date in the Wolfcamp. For 2011 Cimarex drilled and completed 11 gross (10 net) horizontal Wolfcamp wells, bringing total wells in the play to 18 gross (16.8 net). First 30-day production from all the wells has averaged over 6.5 MMcfe/d, comprised of 44% gas, 24% oil and 32% NGL.

http://blackberrystocks.blogspot.com/

http://oilshalegas.com/wolfcampshale.html

Irion County, TX - Wolfcamp Shale

By Tim - http://oilshalegas.com

Wolfcamp Shale Update - Irion County, Texas - Apache Corp (APA)

Apache Corp (APA) recently gave an update on the Wolfcamp Shale located in Irion County, TX.

In the Southern Midland Basin, we leased 20,000 acres in the Wolfcamp shale play in Irion County, which brings our total to 25,000 acres. This is in addition to 31,000 acres in the form of BP leasehold we have in the same area. And during 2012, we plan to drill up to 6 horizontal wells on these properties. We currently think there's potential for up to 150 locations, horizontal wells in this area.

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Wolfcamp Shale - Pioneer Natural Resources (PXD)

By Tim - http://oilshalegas.com

Wolfcamp Shale Update - Upton County, Texas - Pioneer Natural Resources (PXD)

Pioneer Natural Resources (PXD) continues to see great oil well results in the Wolfcamp Shale located in Upton County, TX.

“We recently completed our second successful horizontal well in the Wolfcamp Shale in Upton County, Texas. This well is performing similarly to the first well we announced in 2011, with a 24-hour initial production rate of 807 barrels oil equivalent per day (BOEPD) and a peak 30-day average natural flow rate of 677 BOEPD. The first well continues to flow naturally and produced 45 thousand barrels oil equivalent (MBOE) over its first 90 days of production, which is seven times the production from a Spraberry vertical well over the same time period. These results, which are above our expectations, coupled with the strong production from other industry players drilling horizontal wells in this interval and Pioneer’s extensive geologic interpretation of the area, suggest significant horizontal Wolfcamp Shale potential exists within Pioneer’s acreage. We are the largest acreage holder in the Wolfcamp Shale play with more than 400,000 prospective acres. Our current focus is on 200,000 acres in the southern part of the field where we plan to drill 30 to 35 wells by year end.”

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Upton County, Texas - Wolfcamp Shale - Oil Drilling

By Tim - http://oilshalegas.com

Wolfcamp Shale Update - Upton County, Texas - Pioneer Natural Resources (PXD)

Pioneer Natural Resources (PXD) continues to see great oil well results in the Wolfcamp Shale located in Upton County, TX.

“We recently completed our second successful horizontal well in the Wolfcamp Shale in Upton County, Texas. This well is performing similarly to the first well we announced in 2011, with a 24-hour initial production rate of 807 barrels oil equivalent per day (BOEPD) and a peak 30-day average natural flow rate of 677 BOEPD. The first well continues to flow naturally and produced 45 thousand barrels oil equivalent (MBOE) over its first 90 days of production, which is seven times the production from a Spraberry vertical well over the same time period. These results, which are above our expectations, coupled with the strong production from other industry players drilling horizontal wells in this interval and Pioneer’s extensive geologic interpretation of the area, suggest significant horizontal Wolfcamp Shale potential exists within Pioneer’s acreage. We are the largest acreage holder in the Wolfcamp Shale play with more than 400,000 prospective acres. Our current focus is on 200,000 acres in the southern part of the field where we plan to drill 30 to 35 wells by year end.”

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http://oilshalegas.com/wolfcampshale.html

Bone Spring - Wolfberry - Spraberry Oil Fields - Permian Basin

By Tim - http://oilshalegas.com

Recently, I've been asked to blog about the recent activity going on in the Permian Basin right now located in West Texas. The Permian Basin is the hot spot right now as was the Eagle Ford Shale over the past year. While we are seeing the majority of the rigs continue to flock to the Eagle Ford Shale, there is a huge jump in rigs and drilling activity in the Permian Basin.

The Permian Basin consists on a combination of Oil fields which also contain Natural Gas. On the east side, we have the Spraberry Field as the top zone, the Dean Formation as the middle layer, and the Wolfcamp Shale as the bottom zone. When the oil producers drill into all of these formations, they are calling it the Wolfberry.

On the west side, we are talking about the top layer being the Avalon Shale ( also known as Leonard Shale ) with it mixing into the top layer of the Bone Spring which is made up of three zones. After the bone spring formation, we have the wolfcamp shale again. This area is located in West Texas and extends up into New Mexico. Lea County New Mexico and Eddy County New Mexico are the hot spots.

The Spraberry is seeing acreage go for $15,000+ per acre in some spots regarding mineral rights leasing. All of these zones are hot hot hot and producing a lot of oil.

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

Denton County, TX: Barnett Shale Update

By Andrea: http://oilshalegas.com

Range Resources Corp. (RRC) recently released an update on the Barnett Shale located in Denton County, TX:

During the third quarter, the Southwestern Division continued its successful drilling program. In the Barnett Shale formation, Range initiated sales on three wells in Denton County at a combined average rate of 15.0 (11.3 net) Mmcfe per day, comprised of 8.1 (6.1 net) Mmcf per day and 1,156 (868 net) barrels of NGLs and oil per day. In addition, we began completion operations on five wells in Tarrant County and two wells in Ellis County with production scheduled to begin early in the fourth quarter of 2010. In West Texas at the Conger Field, the division deepened three wells to the Strawn formation and recompleted another well into the Wolfcamp formation. The three Strawn deepenings yielded a combined daily average rate of 551 (468 net) Boe per day, comprised of 437 (372 net) per day barrels of oil and NGLs and 685 (582 net) mcf per day. The Wolfcamp recompletion added 594 (505 net) Boe per day, comprised of 552 (469 net) barrels of oil and NGLs and 255 (217 net) mcf per day.

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Reagan County, Texas: Permian Basin Shale Update

By Andrea: http://oilshalegas.com

El Paso Corp. (EP) recently won a 123,100 acre lease in the Wolfcamp which is part of the Permian Basin shale. The land covers Reagan County, Crockett County, Upton County and Irion County, all located in Texas:

El Paso Corporation (EP) announced that it was the winning bidder for leases covering approximately 123,100 acres in Reagan, Crockett, Upton and Irion counties in the September 22, 2010 University of Texas lease sale. The acquired leases target the Wolfcamp shale and add to approximately 12,000 net acres of existing leasehold in this play. El Paso now has a material position in a new oil shale program with significant resource and production potential.

"We are very excited to announce our entry into a promising new oil shale. Our acreage acquisition is the culmination of an extensive regional study by our technical team, and we expect it to become a new oil-focused core area," said Brent Smolik, president of El Paso Exploration & Production Company. "Today's announcement represents our second organic shale entry following our successful acquisition of more than 170,000 net acres in the Eagle Ford shale. The leasehold we have acquired has multiple pay opportunities and the combination of large contiguous blocks and a single royalty owner give us tremendous operational flexibility. We intend to leverage the successes we have had in our Haynesville and Eagle Ford shale programs, and we will update the market on our plans for the Wolfcamp shale during our third quarter earnings conference call on November 3, 2010."

El Paso remains committed to managing its E&P program for returns and having E&P live within its means. In addition, the company remains committed to generating free cash flow in 2012. To that end, the $180 million cost of the acquired acreage will be funded over time through portfolio rationalization, and future development capital will compete with other programs in the portfolio.

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