Niobrara Shale - Devon Energy (DVN)

By Tim - http://oilshalegas.com

Devon Energy (DVN) is currently drilling for oil in the Niobrara Shale Formation located in Colorado and Wyoming.

In the Niobrara, industry results to date have been mixed and somewhat challenged in some areas, but we are still in the early stages of evaluating our acreage. However, we recently completed our first well in the Turner formation on our Niobrara acreage with encouraging results. After being online for 22 days, the Waterbuck 2342 had averaged 427 barrels of oil equivalent per day. In addition to the Niobrara and Turner formations, we expect to drill Cordell, Mowry and Frontier wells in our Powder River and DJ Basin acreage this year. In total, we expect to have 35 wells drilled here by year end.

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Anadarko Petroleum (APC) - Niobrara Shale - Codell - Watternberg Field

By Tim - http://oilshalegas.com

Anadarko Petroleum (APC) provided an oil & natural gas drilling update on the Niobrara Shale located in Colorado & Wyoming.

In November 2011, Anadarko updated the resource potential of its horizontal Niobrara and Codell opportunities in the liquids-rich Wattenberg field of northeastern Colorado. Based upon the results of this horizontal drilling program, the company announced a net resource potential within the Wattenberg field of 500 million to 1.5 billion BOE, with significant additional potential outside the field boundaries. Anadarko is currently operating five horizontal rigs in the Wattenberg field and two additional horizontal rigs that are evaluating liquids-rich opportunities in Wyoming's Powder River Basin. To enhance the strategic alignment of its upstream and midstream assets in Colorado, Anadarko acquired the Wattenberg Plant in March 2011. This acquisition, combined with Western Gas Partners, LP's (WES) acquisition of the Platte Valley Plant and WES's ownership of the Fort Lupton Plant, along with other midstream assets, is enabling continued growth and value-enhancing opportunities within the Wattenberg field and greater DJ Basin.

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Goshen County, WY - Niobrara Shale Update

By Andrea: http://oilshalegas.com

MDU Resources Group Inc. (MDU) announced recently that they are active in the Niobrara Oil Play - Earlier this year, the natural gas and oil business acquired approximately 88,000 net acres in the emerging Niobrara oil shale play. Since that time, interest and leasehold costs in the play have increased. The company recently signed an agreement to sell a 25 percent working interest to a well-capitalized partner, which helps manage the company’s overall portfolio risk and capital requirements.

Also in 2010, the company acquired approximately 88,000 net exploratory acres in the emerging Niobrara oil play in Laramie and Goshen Counties in southeastern Wyoming. In October 2010, an agreement was signed to sell a 25 percent working interest in this acreage, reducing the company’s portfolio risk and capital requirements, bringing its acreage position to approximately 66,000 net acres. The company plans to begin drilling exploratory wells in the area in 2011. Lease terms are generally five years with most having five-year renewal options available to the company

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Laramie County, WY - Niobrara Shale Update

By Andrea: http://oilshalegas.com

MDU Resources Group Inc. (MDU) announced recently that they are active in the Niobrara Oil Play - Earlier this year, the natural gas and oil business acquired approximately 88,000 net acres in the emerging Niobrara oil shale play. Since that time, interest and leasehold costs in the play have increased. The company recently signed an agreement to sell a 25 percent working interest to a well-capitalized partner, which helps manage the company’s overall portfolio risk and capital requirements.

Also in 2010, the company acquired approximately 88,000 net exploratory acres in the emerging Niobrara oil play in Laramie and Goshen Counties in southeastern Wyoming. In October 2010, an agreement was signed to sell a 25 percent working interest in this acreage, reducing the company’s portfolio risk and capital requirements, bringing its acreage position to approximately 66,000 net acres. The company plans to begin drilling exploratory wells in the area in 2011. Lease terms are generally five years with most having five-year renewal options available to the company

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PetroQuest Energy (PQ): Niobrara Shale Update

By Andrea: http://oilshalegas.com

PetroQuest Energy, Inc. (PQ) recently announced that it has completed operations on its first two test wells in the Niobrara formation. The wells were designed to test differing geologic concepts relative to natural fracturing. The initial test well (Peterson #1- WI-25%) was selected to evaluate a location with less expected natural fracturing. The 4,962 foot lateral well was completed in November, but did not produce oil in commercial quantities.

The second well (Nevis #2, NRI-20%) was drilled approximately 15 miles from the Peterson #1 and tested a location where more natural fracturing was expected. The well was drilled with a 5,298 foot lateral section (20 frac stages) and was completed at an initial 24 hour gross daily rate of 831 barrels of oil and 205 Mcf of gas after cleaning up. Through the first two weeks of production, the well has averaged approximately 570 barrels of oil per day and is currently flowing at 407 barrels of oil per day. The Company estimates that the average gross cost per well for the initial two test wells was approximately $4.5 million.

Based on the results of the Nevis #2, the Company plans to proceed with a development plan in 2011 on its Niobrara acreage. The Company has a 25% non-operated working interest in approximately 20,000 gross acres (5,000 net acres) located in Southern Wyoming. Based on initial plans, the Company expects to participate in 12-15 gross wells during 2011. The Company expects to spud its third well (Hester #3, WI-25%) in January 2011.

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Niobrara Shale - Weld County Update

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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Weld County, CO: Niobrara Shale Update

By Andrea: http://oilshalegas.com


Voyager Oil and Gas Inc. (VYOG.OB) recently released an update on the Niobrara Shale located in Weld County, CO:

Voyager recently participated with Slawson Exploration in three gross Niobrara well completions in the D-J Basin Niobrara play. Slawson is currently setting surface casing on 22 additional drilling locations that have been delineated and high-graded by initial results from the first three wells and other operator results in the area.

Bushwacker 24-11-67

The Bushwacker well is located in the western portion of Slawson's Weld County, Colorado lease block in Section 24, Township 11N, Range 67W. The well experienced significant geosteering issues in the Niobrara B formation and a majority of the lateral is believed to be low or out of the Niobrara B target zone. The well was recently completed with a 19-stage fracture stimulation and flowed back primarily frac fluids with a trace of oil. The well is temporarily shut in pending results of the Moonshine #1-36H and the Outlaw #1-16H. The well was drilled and completed for $3.0 million, below the AFE estimate of $4.2 million. We expect that the lateral portion of the well may be re-drilled and re-stimulated in either the Niobrara B or the Codell formation.

Moonshine #1-36H

The Moonshine well is located east of the Bushwacker well in Section 36, Township 11N, Range 65W Weld County, Colorado. The well experienced encouraging oil and gas shows in The Niobrara B formation during drilling and was recently completed with a 19-stage fracture stimulation. The well is currently flowing back primarily frac water with a 13% oil cut. Although the well is producing approximately 20 BOPD, the well will be placed on pump in late October and currently is expected to be a commercial producer. The well was drilled and completed for $3.29 million, below the AFE estimate of $4.2 million.

Outlaw 1-16H

The Outlaw well is located between the Moonshine and Bushwacker wells in Section 16, Township 11N, Range 66W Weld County, Colorado. The Outlaw well experienced encouraging oil and gas shows during drilling in the Niobrara B formation and is currently being completed. Three stages of the well were fracture stimulated and the fourth stage pressured out. The well is currently flowing back primarily frac water with a 3% oil cut. The remainder of the fracture stimulation is expected to be completed in late October. The well has incurred $1.3 million in drilling and completion costs to date and is expected to be fully completed for less than $3 million.

J.R. Reger commented, "We are encouraged by what we are seeing as we move east in the lease block with the Moonshine and the Outlaw wells. We are especially encouraged by the drilling and completion costs of approximately $3 million per well. We expect the Niobrara Play to continue to evolve and improve. Recent results by other operators in the area are beginning to come in and the operators are beginning to share data regarding target zone, azimuth (horizontal direction) and completion techniques. The horizontal Niobrara play is in its infancy and we expect the learning curve to be steep. Slawson is currently setting surface casing on 22 high-grade locations, based on the shows from the Moonshine and Outlaw wells. Slawson will commence drilling on the lease block when the surface casing is set on all 22 high-grade locations and additional field data regarding drilling and completions techniques has been received. Several of the high-grade locations are in the immediate vicinity of recent EOG results that have been very encouraging. Slawson and Voyager continue to acquire acreage in the core area of the play and we continue to add additional drilling opportunities to our inventory as the play evolves. We are excited about the pace with which this play is developing and we expect the data from these first 3 delineation wells to aid in our future leasing and drilling."


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Laramie County, Wyoming: Niobrara Shale Update

By Andrea: http://oilshalegas.com

Rex Energy Corporation (REXX) recently announced that production during the third quarter 2010 was 20.3 Mmcfe per day which was within the company's guidance of 19.0 Mmcfe per day to 21.0 Mmcfe per day.

Rex Energy also provided an operational update on its Niobrara Shale operations. The company's first well, the Silo State 41-22, was a Rex Energy farm-in well located in the southern part of the Silo Field in Laramie County, Wyoming. The company drilled an approximate 4,000 foot lateral and encountered oil and gas shows while drilling. Rex Energy performed a 13 stage fracture stimulation in late September 2010 which went as planned. During load recovering, the tubing inside casing parted and the company is currently recovering the tubing. This has caused a delay in the completion. To date Rex Energy has recovered 15% of the fracture load. The company expects to resume load recovering shortly.

The well was located with the boundaries of the Silo Field, and Rex Energy anticipated some pressure depletion prior to drilling the well. The company expects to take several additional weeks to clean up the well. The Silo State 41-22 will provide Rex Energy with valuable information on the viability of infill drilling and drainage in the DJ Basin.

Rex Energy is now drilling the Herrington Farms 1H well, its second Niobrara Shale well, and is currently at 2,500 feet of the horizontal leg which is approximately half of the total planned lateral length. The well is in east Silo Field area and will be more representative of the company's 40,000 net acres in the DJ Basin. Rex Energy is encouraged by the continuous oil and gas shows while drilling and is pleased to report it has commenced oil sales from the drill site. The company expects to reach total depth of the well this weekend with completion planned for November 2010. Rex Energy currently has four more locations with approved permits.


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Continental Resources: Bakken Shale and Woodford Shale Update

By Andrea: http://oilshalegas.com

Continental Resources, Inc. (CLR) recently released an operational update where they announced that they expect to produce 20.6 million barrels of oil equivalent (MMBoe) in 2011, an increase of 30 percent over expected production for 2010. The Company confirmed that 2010 total production is expected to be 15.8 MMBoe, in line with guidance.

"Our 2011 capital expenditures budget of $1.36 billion will support accelerated growth," said Harold Hamm, Chairman and Chief Executive Officer. "We've committed 91 percent of 2011 capex, or $1.2 billion, to drilling, workovers and facilities, which directly support production growth.

"Of this drilling-related capex, 92 percent will be invested in the Bakken Shale play in North Dakota and Montana and in the Woodford Shale play in Oklahoma," he said. "These two plays will be critical to driving our growth for the next five years."

In the third quarter ended September 30, 2010, Continental continued to add to its acreage positions in strategic, liquids-rich plays. The Company now has 864,559 net acres leased in the Bakken Shale play, an increase of 47,707 net acres in the third quarter. In the Niobrara Shale play of Colorado and Wyoming, the Company now has leased 73,000 net acres, an increase of 13,929 net acres in the third quarter of 2010.

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Goshen County - Niobrara Shale Update

By Andrea: http://oilshalegas.com

Samson Oil and Gas (SSN) recently announced the closing of its Goshen County Assets located in the Niobrara Shale. The company expects to receive a total of $74.1 million at the end of the total sale:

Samson Oil & Gas Limited (SSN) advises that it has closed an additional portion of its previously announced Goshen County transaction, confirming that an additional US$6.3 million was received this week in consideration for delivery of drilling permits for three State leases.

Samson presently expects to close the final portion of the sales transaction during the week of September 27th. Samson anticipates receiving net consideration of at least US$2.2 million at that closing and considers it likely that it will receive another US$ 1.9 million as a result of curing various title defects. Thus, the total transaction to date can be summarized as follows:

Cash received to date: US$ 70.0 million

Most likely cash to be received the week of September 27th US$ 4.1 million

Most likely total consideration US$ 74.1 million

Under the sale and purchase contract that Samson entered into on June 24th with the buyer, Chesapeake Energy Corporation, Chesapeake acquired 100% of Samson’s working interest in the subject leases but Samson has retained a royalty averaging 3.8% across those leases. While Samson therefore holds an indirect financial interest in the future development of the leases, Samson has no control over the pace or scope of that development. The royalty rate has changed from that previously announced because during the course of this transaction several top leases and lease extensions have been purchased or entered into, and the underlying royalty rates have modified the Samson-retained royalty.

Samson has also retained 17,000 net acres immediately to the north of the leases that have been sold and intends to pursue the appraisal and development of that area. To this end it has engaged a seismic acquisition company to acquire a 65.5-square-mile 3-D seismic survey, which will image this acreage block. Permitting for this seismic survey has commenced and it is expected that the acquisition will commence mid-late October. The survey has several objectives. Firstly, it will help Samson to identify the brittle portions of the Niobrara Formation that are more conducive to natural fracturing as well as the location and orientation of the natural fractures. Secondly, the 3-D seismic data will help image two conventional targets, the J Sand and the Codell Formation which have proven to be productive in the area.

The 3-D seismic data is expected to be available for interpretation in the first quarter of 2011 and the plan is to drill two initial appraisal wells utilizing horizontal multi-stage fracture stimulation methods proven successful in the Bakken Formation in North Dakota. If these wells perform adequately then the project would move to a full field development.

Samson’s Ordinary Shares are traded on the Australian Securities Exchange under the symbol "SSN". Samson's American Depository Shares (ADSs) are traded on the New York Stock Exchange AMEX under the symbol "SSN". Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 1,663 million ordinary shares issued and outstanding, which would be the equivalent of 83.15 million ADSs. Accordingly, based on the NYSE AMEX closing price of US$1.39 per ADS on September 21st, 2010 the company has a current market capitalization of approximately US$115.6 million. Correspondingly, based on the ASX closing price of A$0.07 on September 21st, 2010, the company has a current market capitalization of A$ 116.4 million.

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Anadarko Petroleum (APC): Niobrara Shale update

By Andrea: http://oilshalegas.com

Anadarko Petroleum (APC) recently announced their plans for new wells in the Niobrara shale for 3Q 2010. The company described the Niobrara shale as "another emerging area". The oil-focused play is located in Northeastern Colorado and Southeaster Wyoming. Anadarko plans to drill 6 to 10 operated wells beginning in the third quarter of 2010, now that they have gleaned important information in their greater than 500,000 gross acreage position from prior farm-outs. Much of the acreage is in the land grant where they hold the mineral rights and perpetuity. Anadarko has been shooting seismic and acquiring leases that have given them a commanding acreage position that is incremental to their 550,000 acre position in the Wattenberg gield, where they have been producing in the Niobrara formation for many years.

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Laramie County, WY: Niobrara Shale Update

By Andrea: http://oilshalegas.com

Continental Resources Inc. (CLR) has to date, leased roughly 60,000 net acres in the Niobrara shale in both Colorado and Wyoming and they are still actively leasing. Continental Resources recently announced that they will spot their first well in the Niobrara shale play in the 4th quarter of 2010. Jeff Hume, president and COO expressed his excitement and positive outlook in the Niobrara shale play:

"The Niobrara is a huge crude oil resource play. It covers over 3 million acres and has a potential to produce more than 2 billion barrels of oil. We’ve established a strategic position in the play, leasing almost 60,000 net acres and continue to acquire result. We hold acreage in Platt, Laramie, and Goshen Counties in Wyoming and a well count in Colorado...Niobrara development is currently on 640 spacing and we believe the play can accommodate 1280s. We plan to spot our first Niobrara well in the fourth quarter. Continental’s entry into the Niobrara is a natural strategic fit with our expertise and experience in horizontal oil resource plays."

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Laramie County, Wyoming: Niobrara Shale update

By Andrea: http://oilshalegas.com

Rex Energy Corporation (REXX) recently released an update on the Niobrara Shale in Laramie County, WY:

A large portion of their acreage is located in close proximity to the Silo Field in Laramie County, Wyoming. The Silo Field has been producing Niobrara Field of approximately 90 horizontal wells, which were built predominantly in the 1990s. Although these wells were drilled sometime ago with short laterals and single stage openhole completions, in most cases they still average in EURs of approximately 160,000 barrels of oil.

Most recently, SM Energy formerly St. Mary's reported their Atlas 1-19H well in the southern part of the Silo Field which was drilled with a longer lateral and completed using modern techniques produced at initial rate of approximately 1,000 barrels a day, far upsetting the historically well production in the field.

In late July, Rexx Energy spud their first horizontal Niobrara Shale well in the Basin which is currently drilling. The well is planned to have a 4,000 foot lateral section and they plan to complete it with a 10 to 12 stage frac. While it is still early in the play, they are optimistic that this project will become a significant asset the company.

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Laramie County, Wyoming: Niobrara Shale

By Andrea: http://oilshalegas.com

Rex Energy Corporation (REXX) is currently drilling their first Niobrara Shale well in Laramie County, WY. Rex Energy Corporation (REXX) will use the horizontal drilling technique to drill the well which is located 14 miles Northeast of Cheyenne. The well will be drilled approximately 8,000 feet vertically and about 4,000 feet horizontally.

Read the full story here: http://www.google.com/hostednews/ap/article/ALeqM5hWD_U_uXzGDaM3DySbId0_QJNNvwD9HHJBNO0

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Chesapeake Energy Corp. (CHK): Jim Cramer Opinion

By Andrea: http://oilshalegas.com

August 11, 2010: Jim Cramer featured Chesapeake Energy Corp. (CHK) last night on Mad Money and is convinced that the stock is a strong buy. With Chesapeake's recent 2010 Q2 earnings report and announcement that they own the largest acreage in both the Eagle Ford Shale and the Niobrara, they may have finally carved out a bottom according to Cramer. Cramer rallies for the stock based on Chesapeake's recent debt deal they completed in addition to the 14% production increase they noted in their 2010 2Q earnings call. However; the stock is not getting the attention it deserves, says Cramer. After its huge fall in the past few months, investors are afraid to touch the stock. Cramer takes us to the charts and points out the "W" in the stock's trend, a series of higher lows over a period of time. Cramer may be ready to regain his credibility when it comes to Chesapeake Energy:



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Carrizo Oil and Gas Inc.(CRZO): Niobrara Shale update

By Andrea: http://oilshalegas.com

Carrizo Oil & Gas Inc. (CRZO) released an update on the Niobrara Shale recently in their 2010 2Q Earnings Call.

"Our production for the quarter came in ahead of forecast due to the faster clean-up and better initial response of new Barnett wells completed during the quarter and the optimal management of the producing wells at our facility on the University of Texas at Arlington campus during completion activities. We are now in the final stages of completing the last 8 wells on this 22 well pad. We moved one of our Helmerich & Payne rigs out of the Barnett Shale to drill our initial three horizontal Eagle Ford Shale wells in LaSalle County. We have reached total depth on our first well and are finishing up the second, both with lateral legs of over 5,000'. The information generated during the course of drilling these wells is encouraging and we expect to move the rig to the third well following completion of drilling the second well. We plan to frac and complete these wells later this year. We have had some success in adding acreage in both the Eagle Ford and Niobrara plays recently. We currently own around 17,000 acres in the Eagle Ford and 58,000 acres in the northern D. J. Basin prospective for Niobrara oil. We expect that our first Niobrara well should spud in September and we hope to drill three horizontal wells in this play by the end of the year. We have contracted an additional rig to initiate our development drilling in Pennsylvania with our new partner Reliance Industries, and are on track for a September start date."

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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.

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Top Company in Niobrara Shale

By Andrea: http://oilshalegas.com

Chesapeake Energy Corp. (CHK) announced in their 2Q 2010 Earnings call that they now own the largest leasehold in the Niobrara Shale. They have a total of 675,000 net acres in the Niobrara Shale.

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Chesapeake Energy in Niobrara and Eagle Ford Shale

By Andrea: http://oilshalegas.com

Chesapeake Energy Corp. (CHK) announced that they own the largest amount of acreage in both the Niobrara and the Eagle Ford Shale. CEO Aubrey McClendon reports:

"We now own the largest inventory of leasehold in two of the top three new unconventional liquids plays in Niobrara and the Eagle Ford Shale, where we now on 675,000 and 550,000 net acres, respectively, located very strategically in the liquids-rich portion of each play. We are especially pleased about our position in the Eagle Ford and are very excited to move forward with the JV on this acreage. We are in good position here with many potential partners, all of whom we believe are working hard to get to the right answer."

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Laramie County, Wyoming: Niobrara Shale

By Andrea: http://oilshalegas.com

SM Energy (SM) announced the completion of their first well in the Niobrara Shale:

SM Energy completed its first horizontal well targeting the Niobrara in mid-May 2010. The Atlas 1-19H (SM 94% WI), which is located just south of the Silo Field in Laramie County, Wyoming, was drilled to a vertical depth of roughly 8,000 ft and a total measured depth of approximately 12,000 ft. The 7-day initial production average for the well was 1,075 BOE/d, and as of July 27, 2010, the well was making roughly 500 BOPD. SM Energy is currently working to secure a drilling rig to drill a second test well in this program later this year. The Company has approximately 25,000 net acres leased in this portion of the Niobrara play, which is located in the northern part of the Denver-Julesburg Basin.

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