By Andrea: http://oilshalegas.com
SandRidge Energy, Inc. (SD) recently announced that it has sold its Bone Spring asset package for $110 million, approximately $2,750 per acre. At closing, SandRidge received cash proceeds of $88 million. An additional $22 million was placed in escrow to be released to SandRidge in the first quarter of 2011, subject to satisfaction of customary post-closing conditions. The Bone Spring package includes approximately 40,000 net acres in the Permian Basin with development potential in the Avalon Shale and Bone Spring reservoirs. There is no production or proved reserves associated with these assets, and SandRidge will retain all rights above and below the Avalon Shale and Bone Spring formations. Proceeds from this transaction will be used to fund a portion of SandRidge’s planned capital expenditures in 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Showing posts with label Avalon shale. Show all posts
Showing posts with label Avalon shale. Show all posts
Friday, December 24, 2010
Saturday, November 20, 2010
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
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
Tuesday, August 17, 2010
Concho Resources, Inc. (CXO): Avalon shale update
By Andrea: http://oilshalegas.com
Concho Resources, Inc. (CXO) announced recently that it plans to drill its first horizontal well in the Avalon shale by the end of 2010.
Concho Resources is an independent oil and gas company with an interest in the acquisition, exploration and development of natural gas properties. Their resources lie mainly in the Permian Basin of southeast New Mexico and west Texas. The Permian Basin is the largest onshore oil and gas basin in the United States.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Concho Resources, Inc. (CXO) announced recently that it plans to drill its first horizontal well in the Avalon shale by the end of 2010.
Concho Resources is an independent oil and gas company with an interest in the acquisition, exploration and development of natural gas properties. Their resources lie mainly in the Permian Basin of southeast New Mexico and west Texas. The Permian Basin is the largest onshore oil and gas basin in the United States.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Monday, August 16, 2010
Devon Energy Corp. (DVN): Avalon Shale Update
By Andrea: http://oilshalegas.com
Devon Energy Corp (DVN) has been building a position in the Avalon Shale play recently. To date, they have assembled 235,000 perspective net acres in this conensate and liquids-rich gas play. Although they are still in the early evaluation of the play, initial drilling results indicate an attractive, repeatable play with outstanding economics. The best wells Devon Energy has drilled to date, have IP-ed at over 500 barrels of condensate per day, 500 barrels of NGLs per day and 3 million to 5 million cubic feet per day of gas. Well costs in the play run between $3.3 million and $4 million. Devon expects Avalon wells to have average IPs of 300 barrels of condensate per day, 300 barrels of NGLs per day and 2 million cubic feet of gas per day in the heart of the play. They expect per-well recoveries to average over 600,000 barrels of oil equivalent. They believe Avalon shale has great return potential and they plan to participate in 32 Avalon wells by the end of 2010, 20 of which they will operate.
As of June 30, 2010 Devon assembled more than 700,000 net acres of leasehold targeting the Avalon Shale, Bone Spring, Wolfberry and other conventional formations. Devon is currently running 11 rigs to de-risk and develop its Permian Basin acreage position.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Devon Energy Corp (DVN) has been building a position in the Avalon Shale play recently. To date, they have assembled 235,000 perspective net acres in this conensate and liquids-rich gas play. Although they are still in the early evaluation of the play, initial drilling results indicate an attractive, repeatable play with outstanding economics. The best wells Devon Energy has drilled to date, have IP-ed at over 500 barrels of condensate per day, 500 barrels of NGLs per day and 3 million to 5 million cubic feet per day of gas. Well costs in the play run between $3.3 million and $4 million. Devon expects Avalon wells to have average IPs of 300 barrels of condensate per day, 300 barrels of NGLs per day and 2 million cubic feet of gas per day in the heart of the play. They expect per-well recoveries to average over 600,000 barrels of oil equivalent. They believe Avalon shale has great return potential and they plan to participate in 32 Avalon wells by the end of 2010, 20 of which they will operate.
As of June 30, 2010 Devon assembled more than 700,000 net acres of leasehold targeting the Avalon Shale, Bone Spring, Wolfberry and other conventional formations. Devon is currently running 11 rigs to de-risk and develop its Permian Basin acreage position.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Anadarko Petroleum (APC): Avalon Shale update
By Andrea: http://oilshalegas.com
Anadarko Petroleum Corp. (APC) is currently testing Avalon shale to see if the formation is profitable: Robert Daniels, Senior VP states: "On the Avalon, what we've done so far is in the Bone Spring itself. And we have looked at the Avalon which does seem to have some characteristics that would make it attractive to test. And so we do have some plans to go out and test the Avalon shale and see what sort of producibility it may have, what kind of recoveries we would get, what type of hydrocarbon. We do plan to drill two wells in there right now. We have 170,000 acres out in the West Texas area that would be prospective for the Bone Spring and Avalon Shale. So we would be testing it and see what we get out of it."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Anadarko Petroleum Corp. (APC) is currently testing Avalon shale to see if the formation is profitable: Robert Daniels, Senior VP states: "On the Avalon, what we've done so far is in the Bone Spring itself. And we have looked at the Avalon which does seem to have some characteristics that would make it attractive to test. And so we do have some plans to go out and test the Avalon shale and see what sort of producibility it may have, what kind of recoveries we would get, what type of hydrocarbon. We do plan to drill two wells in there right now. We have 170,000 acres out in the West Texas area that would be prospective for the Bone Spring and Avalon Shale. So we would be testing it and see what we get out of it."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Lea County, NM; Eddy County, NM: Avalon Shale Update
By Andrea: http://oilshalegas.com
EOG Resources Inc. (EOG) recently researched Avalon Shale potential across their 120,000 net acres in the Red Hill areas of Lea and Eddy counties, New Mexico. They believe that the recovery potential is 65 million bbl of oil equivalent. They based their estimate on 7 horizontal and 4 vertical wells that they have already drilled. They stated that the typical horizontal recovery potential is estimated at 400,000 net boe for $6.5 million per well, or a 40% direct after-tax reinvestment rate of return. EOG has been testing Avalon shale play for more than 1 year and they have production history of more than 300 days from one well.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
EOG Resources Inc. (EOG) recently researched Avalon Shale potential across their 120,000 net acres in the Red Hill areas of Lea and Eddy counties, New Mexico. They believe that the recovery potential is 65 million bbl of oil equivalent. They based their estimate on 7 horizontal and 4 vertical wells that they have already drilled. They stated that the typical horizontal recovery potential is estimated at 400,000 net boe for $6.5 million per well, or a 40% direct after-tax reinvestment rate of return. EOG has been testing Avalon shale play for more than 1 year and they have production history of more than 300 days from one well.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Chesapeake Energy Corp (CHK): Avalon Shale update
By Andrea: http://oilshalegas.com
Chesapeake Energy Corp. (CHK) has drilled 8 wells to date in the Avalon shale on their 120,000 net acres across Texas and New Mexico. They predict that each well in the Avalon shale can produce 350 MBOE with an unrisked resource of 200 MMBOE. Chesapeake anticipates operating an average of roughly six rigs in the Permian Basin unconventional liquid plays by the end of 2010 and plans to drill approximately 50 net wells.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Chesapeake Energy Corp. (CHK) has drilled 8 wells to date in the Avalon shale on their 120,000 net acres across Texas and New Mexico. They predict that each well in the Avalon shale can produce 350 MBOE with an unrisked resource of 200 MMBOE. Chesapeake anticipates operating an average of roughly six rigs in the Permian Basin unconventional liquid plays by the end of 2010 and plans to drill approximately 50 net wells.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Eagle Ford Shale Pipeline: Spectra Energy Corp. (SE)
By Andrea: http://oilshalegas.com
Spectra Energy Corp. (SE) announced that in the Eagle Ford shale, DCP is laying additional pipe to connect producers to nearly 250 million cubic feet a day of its existing processing capacity which will be available, beginning in 2011. In the Permian Basin, DCP is restarting and expanding its Roberts Ranch processing facility to provide up to 70 million a day of capacity for the Wolfberry region beginning in September. And they're adding new gathering and processing capacity for Avalon Shale volumes being developed now in southeast New Mexico.
Spectra Energy Corp. (SE) is one of North America’s leading providers of natural gas infrastructure. They were founded in 2007 as a subsidiary of Duke Energy.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Spectra Energy Corp. (SE) announced that in the Eagle Ford shale, DCP is laying additional pipe to connect producers to nearly 250 million cubic feet a day of its existing processing capacity which will be available, beginning in 2011. In the Permian Basin, DCP is restarting and expanding its Roberts Ranch processing facility to provide up to 70 million a day of capacity for the Wolfberry region beginning in September. And they're adding new gathering and processing capacity for Avalon Shale volumes being developed now in southeast New Mexico.
Spectra Energy Corp. (SE) is one of North America’s leading providers of natural gas infrastructure. They were founded in 2007 as a subsidiary of Duke Energy.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Saturday, August 14, 2010
Avalon Shale Update: Devon Energy Corp. (DVN)
By Andrea: http://oilshalegas.com
Devon Energy Corp. (DVN) announced that they are starting to build a position in the Avalon shale in their 2010 2Q earnings call. They have assembled 235,000 perspective net acres in the condensate- and liquids-rich gas play. While they are still in the early evaluation of the Avalon shale play, their initial drilling results prove to show an attractive, repeatable play with outstanding economics. They best wells Devon has drilled to date in the Avalon shale have IPd at over 500 barrels of condensate per day, 500 barrels of NGLs per day and 3 million to 5 million cubic feet per day of gas. Well costs in the Avalon shale run between $3.3 million and $4 million. Devon expects Avalon wells to have average IPs of 300 barrels condensate per day, 300 barrels of NGLs per day and 2 million cubic feet of gas per day in the heat of the Avalon shale play. They expect per-well recoveries to average over 600,000 barrels of oil equivalent. Devon plays to participate in 32 Avalon wells in 2010, 20 of which they will operate.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Devon Energy Corp. (DVN) announced that they are starting to build a position in the Avalon shale in their 2010 2Q earnings call. They have assembled 235,000 perspective net acres in the condensate- and liquids-rich gas play. While they are still in the early evaluation of the Avalon shale play, their initial drilling results prove to show an attractive, repeatable play with outstanding economics. They best wells Devon has drilled to date in the Avalon shale have IPd at over 500 barrels of condensate per day, 500 barrels of NGLs per day and 3 million to 5 million cubic feet per day of gas. Well costs in the Avalon shale run between $3.3 million and $4 million. Devon expects Avalon wells to have average IPs of 300 barrels condensate per day, 300 barrels of NGLs per day and 2 million cubic feet of gas per day in the heat of the Avalon shale play. They expect per-well recoveries to average over 600,000 barrels of oil equivalent. Devon plays to participate in 32 Avalon wells in 2010, 20 of which they will operate.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
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