By Tim - http://oilshalegas.com
Today, November 30, 2010, Carrizoo Oil & Gas came out with a production update on their Niobrara Shale Weld County, CO acreage.
Carrizo Oil & Gas Announces Initial Production Rates for Its First Two Eagle Ford Shale Wells and Updates Niobrara Activity
On the Company's Niobrara Formation acreage located in Weld County, Colorado, fracture stimulation activities are scheduled to commence on the State 16-11-9-60H on December 1, 2010. Initial production results are expected to be available from this well before the end of this year. The drilling of the vertical portion of the Company's second Niobrara well, the Bob White 36-44-8-62H, has been completed and protective casing has been installed through the curve. The drilling of the horizontal leg is currently under way. Initial production results from this well are expected in January 2011. A third Niobrara well is planned to be drilled in Section 36, Township 9N, Range 61W of Weld County immediately following finalization of the drilling of the Bob White well. Carrizo owns approximately 59,000 net acres in the Niobrara play, all of which are located in Weld County.
http://www.easyir.com/easyir/prssrel.do?easyirid=5973FCB26450FFF1&version=live&prid=692025
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Showing posts with label operational update. Show all posts
Showing posts with label operational update. Show all posts
Tuesday, November 30, 2010
Thursday, October 28, 2010
Westmont Resources, Inc. (WMNS) - Marcellus Shale and Chattanooga Shale Update
By Andrea: http://oilshalegas.com
Westmont Resources, Inc. (WMNS), recently released an operational update announcing the acquisitions of 92 oil and gas wells in Tennessee and the follow-on acquisitions of 60 wells in Pennsylvania and 60 wells in West Virginia:
Westmont Resources has been working to obtain oil and gas leases in the Marcellus and Chattanooga Shale Region. Representing roughly 61,000 square miles, stretches from Upper New York, through western Pennsylvania and into eastern Ohio and most of Kentucky and West Virginia and parts of Virginia and Eastern Tennessee. It is believed to be one of the richest natural gas fields in the World. In early 2008, geoscientist at Penn State Univ, and SUNY Fredonia estimated that the Marcellus & Chattanooga contains more than 500 trillion cubic feet of natural gas. These reserves represent more than 2 times the current reserves located in Saudi Arabia. The shale contains largely untapped natural gas reserves, and its proximity to the high-demand markets along the East Coast makes it an attractive target for energy development.
Preliminary estimates indicate that the value of the potential reserves associated with these 212 wells in Pennsylvania, Tennessee, and West Virginia could amount to nearly $69.71 million. Westmont believes that with additional exploration an additional 560 wells could be redrilled or reentered in the area increasing the potential reserves for the entire project by an estimated $183 million, or a combined estimated value for the three project areas of $252.71 million. This is based on the company's review of other assessments and production in the immediate area.
"Westmont is focused on applying or proprietary cutting-edge technology in order to 'wring additional value from' long-lived, low risk natural gas and oil properties - To squeeze more oil out of mature basins," said Glenn McQuiston, Westmont's President. "Equally important our systems, as opposed to the traditional alternatives, meet our goal of producing zero harm to people and the environment."
Malone & Bailey, based in Houston, is one of the most experienced public accounting firms in the oil & gas sector and has extensive experience and expertise with publicly traded companies. The firm is registered with the Public Company Accounting Oversight Board and is an independent member firm associated TIAG and MSNA. Malone & Bailey will continue to review and audit the SEC filings in order to keep Westmont current in its disclosure obligations.
"We are very happy to have an experienced and very qualified firm to work with our senior management team," said Marcie Corbin, CFO. "We look forward to moving forward with our business integration and planned growth strategy of acquiring additional wells to augment our projects in the greater Marcellus in Pennsylvania, Tennessee, and West Virginia."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Westmont Resources, Inc. (WMNS), recently released an operational update announcing the acquisitions of 92 oil and gas wells in Tennessee and the follow-on acquisitions of 60 wells in Pennsylvania and 60 wells in West Virginia:
Westmont Resources has been working to obtain oil and gas leases in the Marcellus and Chattanooga Shale Region. Representing roughly 61,000 square miles, stretches from Upper New York, through western Pennsylvania and into eastern Ohio and most of Kentucky and West Virginia and parts of Virginia and Eastern Tennessee. It is believed to be one of the richest natural gas fields in the World. In early 2008, geoscientist at Penn State Univ, and SUNY Fredonia estimated that the Marcellus & Chattanooga contains more than 500 trillion cubic feet of natural gas. These reserves represent more than 2 times the current reserves located in Saudi Arabia. The shale contains largely untapped natural gas reserves, and its proximity to the high-demand markets along the East Coast makes it an attractive target for energy development.
Preliminary estimates indicate that the value of the potential reserves associated with these 212 wells in Pennsylvania, Tennessee, and West Virginia could amount to nearly $69.71 million. Westmont believes that with additional exploration an additional 560 wells could be redrilled or reentered in the area increasing the potential reserves for the entire project by an estimated $183 million, or a combined estimated value for the three project areas of $252.71 million. This is based on the company's review of other assessments and production in the immediate area.
"Westmont is focused on applying or proprietary cutting-edge technology in order to 'wring additional value from' long-lived, low risk natural gas and oil properties - To squeeze more oil out of mature basins," said Glenn McQuiston, Westmont's President. "Equally important our systems, as opposed to the traditional alternatives, meet our goal of producing zero harm to people and the environment."
Malone & Bailey, based in Houston, is one of the most experienced public accounting firms in the oil & gas sector and has extensive experience and expertise with publicly traded companies. The firm is registered with the Public Company Accounting Oversight Board and is an independent member firm associated TIAG and MSNA. Malone & Bailey will continue to review and audit the SEC filings in order to keep Westmont current in its disclosure obligations.
"We are very happy to have an experienced and very qualified firm to work with our senior management team," said Marcie Corbin, CFO. "We look forward to moving forward with our business integration and planned growth strategy of acquiring additional wells to augment our projects in the greater Marcellus in Pennsylvania, Tennessee, and West Virginia."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, October 14, 2009
Lycoming County PA - Marcellus Shale: Range Resources
October 14, 2009 - Range Resources Corp. (RRC) has come out with an operational update on the Marcellus Shale today and it appears the company is starting to drill in Lycoming County, PA.
Range Resources Corp. (RRC) Operational Update - 10/14/09
During the third quarter, the Marcellus Shale division continued to make excellent progress. Recently, we added two key members to our Marcellus team. Joe Frantz has been added as Vice President of Engineering and Scott Roy has been added as Vice President of Government and Regulatory Affairs. Both are leaders in their fields and bring substantial experience. The Marcellus Division is continuing to delineate and de-risk its large land position. We now have a rig in northeast Pennsylvania in Lycoming County drilling the first of two horizontal wells, which offset our high-rate vertical wells. We expect initial results from these two wells by early next year. We also plan to drill a Utica Shale horizontal and a shallow upper Devonian horizontal before year-end. Results of these two wells should be available by early first quarter.
Marcellus Shale production is well on plan and now exceeds 80 Mmcfe per day net and is expected to approach the higher end of the previously revised target of 90 - 100 Mmcfe per day net by year-end 2009. From inception, Range has drilled 77 horizontal Marcellus Shale wells, of which 60 have been completed and 54 are on production. The Company expects to drill and case approximately 20 additional horizontal wells in the Marcellus Shale play during the fourth quarter 2009 and carryover approximately 20 of these for completion in 2010. The Marcellus division is currently running a total of four horizontal rigs. We anticipate entering 2010 with six custom-built horizontal rigs. Full Press Release
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Range Resources Corp. (RRC) Operational Update - 10/14/09
During the third quarter, the Marcellus Shale division continued to make excellent progress. Recently, we added two key members to our Marcellus team. Joe Frantz has been added as Vice President of Engineering and Scott Roy has been added as Vice President of Government and Regulatory Affairs. Both are leaders in their fields and bring substantial experience. The Marcellus Division is continuing to delineate and de-risk its large land position. We now have a rig in northeast Pennsylvania in Lycoming County drilling the first of two horizontal wells, which offset our high-rate vertical wells. We expect initial results from these two wells by early next year. We also plan to drill a Utica Shale horizontal and a shallow upper Devonian horizontal before year-end. Results of these two wells should be available by early first quarter.
Marcellus Shale production is well on plan and now exceeds 80 Mmcfe per day net and is expected to approach the higher end of the previously revised target of 90 - 100 Mmcfe per day net by year-end 2009. From inception, Range has drilled 77 horizontal Marcellus Shale wells, of which 60 have been completed and 54 are on production. The Company expects to drill and case approximately 20 additional horizontal wells in the Marcellus Shale play during the fourth quarter 2009 and carryover approximately 20 of these for completion in 2010. The Marcellus division is currently running a total of four horizontal rigs. We anticipate entering 2010 with six custom-built horizontal rigs. Full Press Release
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Thursday, February 19, 2009
Haynesville Shale: XTO Energy 2009 Panola County
XTO Energy has come out with earnings today, 2/19/09, and updated investors on its haynesville shale operations. XTO talks about its East Texas properties below.
From Seeking Alpa
We drilled first Haynesville shale well in western Panola County, the New Horizon's number one that came in at 8.5 million a day, that is not an IP, that well averaged over 8 million a day for the first 15 days. It's currently offline because of the DCP Cartage flat (ph) issue, should be back up next week.
We believe that well from the way we're choking and holding our performance would have made over 8 million a day for the first month. If you look at the Haynesville wells you are seeing some that have 15 million a day, first month, you are seeing a lot that are 45 million a day first month sales. So, I would say this well as far west as it is, averaging 8 million a day is a good precursor for where our acreage is going to be plenty good on the Texas side
And last but not least, we have had an extension area of south of Bald Prairie and Robertson County that we have been working on for two or three years, have increased our position here to almost 80,000 net acres and have started in earnest to drill development wells down there and had two wells coming at 6 million a day in the quarter from the land and Bossier and that gives us lot of hope and belief that area will pan out to be a major growth area, of course in future.
http://blackberrystocks.blogspot.com
From Seeking Alpa
We drilled first Haynesville shale well in western Panola County, the New Horizon's number one that came in at 8.5 million a day, that is not an IP, that well averaged over 8 million a day for the first 15 days. It's currently offline because of the DCP Cartage flat (ph) issue, should be back up next week.
We believe that well from the way we're choking and holding our performance would have made over 8 million a day for the first month. If you look at the Haynesville wells you are seeing some that have 15 million a day, first month, you are seeing a lot that are 45 million a day first month sales. So, I would say this well as far west as it is, averaging 8 million a day is a good precursor for where our acreage is going to be plenty good on the Texas side
And last but not least, we have had an extension area of south of Bald Prairie and Robertson County that we have been working on for two or three years, have increased our position here to almost 80,000 net acres and have started in earnest to drill development wells down there and had two wells coming at 6 million a day in the quarter from the land and Bossier and that gives us lot of hope and belief that area will pan out to be a major growth area, of course in future.
http://blackberrystocks.blogspot.com
Friday, January 30, 2009
Woodford Shale: Newfield Exploration NFX 2009
Newfield Exploration ( NFX ) has come out and given an operational update on the Woodford Shale located in Oklahoma.
The Woodford Shale, located in the Arkoma Basin of southeastern Oklahoma, was Newfield's largest investment region in 2008 and will remain so in 2009. Total Woodford production in 2008 increased 65% over 2007 volumes. Gross operated production from the Woodford in early December exceeded the Company's year-end goal of 250 MMcfe/d. Due to longer lateral completions and efficiency gains, Newfield expects to grow its 2009 Woodford production by about 30%, despite running fewer operated rigs.
"The positive benefits of moving from the 'hold the ground' phase in the Woodford to development mode in 2008 is obvious from the improvement in our finding costs in the Mid-Continent," said Lee K. Boothby, Newfield Senior Vice President. "Our drilling and completion costs in 2008, stated on a lateral foot basis, were 38% lower than in 2007. We have drilled about 250 horizontal wells to date and our lateral lengths continue to grow. We now expect that our average lateral length in 2009 will be about 5,000', compared to just 2,428' in 2007 and 4,436' in 2008. This should result in higher initial production rates, greater recoveries per well and improved finding cost metrics."
http://phx.corporate-ir.net/phoenix.zhtml?c=63798&p=irol-newsArticle&ID=1250144&highlight=
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
The Woodford Shale, located in the Arkoma Basin of southeastern Oklahoma, was Newfield's largest investment region in 2008 and will remain so in 2009. Total Woodford production in 2008 increased 65% over 2007 volumes. Gross operated production from the Woodford in early December exceeded the Company's year-end goal of 250 MMcfe/d. Due to longer lateral completions and efficiency gains, Newfield expects to grow its 2009 Woodford production by about 30%, despite running fewer operated rigs.
"The positive benefits of moving from the 'hold the ground' phase in the Woodford to development mode in 2008 is obvious from the improvement in our finding costs in the Mid-Continent," said Lee K. Boothby, Newfield Senior Vice President. "Our drilling and completion costs in 2008, stated on a lateral foot basis, were 38% lower than in 2007. We have drilled about 250 horizontal wells to date and our lateral lengths continue to grow. We now expect that our average lateral length in 2009 will be about 5,000', compared to just 2,428' in 2007 and 4,436' in 2008. This should result in higher initial production rates, greater recoveries per well and improved finding cost metrics."
http://phx.corporate-ir.net/phoenix.zhtml?c=63798&p=irol-newsArticle&ID=1250144&highlight=
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
Wednesday, October 22, 2008
CNX Gas ( CXG ) Operations Update 10/22/08
CNX Gas (CXG ) has come out with really good earnings this morning to kick off the earnings season for the Oil & Gas drillers.
In the Marcellus Shale during the third quarter, CNX Gas drilled its first and second horizontal wells in southwestern Pennsylvania. The first horizontal well cost $6 million and was stimulated with a five-stage slickwater frac. An open flow test was not conducted on this well. It came online October 2, and is producing 1.2 MMcf per day with 4,000 pounds of backpressure. The daily flow rate is expected to increase dramatically over the next few weeks as the backpressure is gradually eased. The nearby coalbed methane gathering system has the capacity to handle up to 2.5 MMcf per day from this horizontal well and is being expanded within the next two weeks to handle additional volumes.
Also," Mr. Albert continued, "the vertical Marcellus Shale well that we turned online in July 2008 is currently producing 450 Mcf per day. We believe that the well has some sand issues, and could return to a daily production rate of 700-800 Mcf after cleaning."
CNX Gas will keep one horizontal rig and one vertical rig running in the Marcellus Shale for the remainder of the year.
In the Chattanooga Shale, CNX Gas drilled three horizontal wells in the quarter, bringing the yearly total to seven, and the project total to eight. No wells were connected during the September quarter, although the fifth well was connected last week. The first four wells are seeing current daily production rates of 230, 160, 100, and 230 Mcf per day, for a total of 720 Mcf per day. The daily rates for the better wells have been stable.
In the Huron Shale during the third quarter, CNX Gas drilled one additional horizontal well in eastern Kentucky. A total of two Huron wells have been drilled in 2008. The rig performing this drilling has returned to Tennessee to drill Chattanooga Shale wells for the remainder of the year. CNX Gas is building out gathering and compression in this area, with an expected in-service date of March 2009.
For more on Natural Gas Shales in the USA and Canada - visit - http://oilshalegas.com
In the Marcellus Shale during the third quarter, CNX Gas drilled its first and second horizontal wells in southwestern Pennsylvania. The first horizontal well cost $6 million and was stimulated with a five-stage slickwater frac. An open flow test was not conducted on this well. It came online October 2, and is producing 1.2 MMcf per day with 4,000 pounds of backpressure. The daily flow rate is expected to increase dramatically over the next few weeks as the backpressure is gradually eased. The nearby coalbed methane gathering system has the capacity to handle up to 2.5 MMcf per day from this horizontal well and is being expanded within the next two weeks to handle additional volumes.
Also," Mr. Albert continued, "the vertical Marcellus Shale well that we turned online in July 2008 is currently producing 450 Mcf per day. We believe that the well has some sand issues, and could return to a daily production rate of 700-800 Mcf after cleaning."
CNX Gas will keep one horizontal rig and one vertical rig running in the Marcellus Shale for the remainder of the year.
In the Chattanooga Shale, CNX Gas drilled three horizontal wells in the quarter, bringing the yearly total to seven, and the project total to eight. No wells were connected during the September quarter, although the fifth well was connected last week. The first four wells are seeing current daily production rates of 230, 160, 100, and 230 Mcf per day, for a total of 720 Mcf per day. The daily rates for the better wells have been stable.
In the Huron Shale during the third quarter, CNX Gas drilled one additional horizontal well in eastern Kentucky. A total of two Huron wells have been drilled in 2008. The rig performing this drilling has returned to Tennessee to drill Chattanooga Shale wells for the remainder of the year. CNX Gas is building out gathering and compression in this area, with an expected in-service date of March 2009.
For more on Natural Gas Shales in the USA and Canada - visit - http://oilshalegas.com
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