By Andrea: http://oilshalegas.com
Southwestern Energy Co. (SWN) recently announced its planned capital investment program and guidance for 2011. The company's total capital investment program in 2011 is planned to be approximately $1.9 billion, attributing much of that to the Fayetteville Shale.
"Our large inventory of high-return wells in the Fayetteville Shale gives us the ability to have profitable growth in today's price environment and our economies of scale in the play enable us to enjoy one of the lowest cost structures in the industry. The continued focus on keeping our costs low and adding the maximum value for each dollar we invest are the keys to success in 2011," stated Steve Mueller, President and Chief Executive Officer of Southwestern Energy.
"Our 2011 capital investment program continues to be dominated by our position in the Fayetteville Shale. Our plan for the Fayetteville Shale during the year is to transition from earning our acreage position by drilling first wells in new sections and optimizing well spacing to more drilling on multi-well pads which will result in faster drilling times. We currently plan to start the year with 13 operated horizontal rigs in the Fayetteville Shale and exit the year drilling with 11 rigs...."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Showing posts with label horizontal rigs. Show all posts
Showing posts with label horizontal rigs. Show all posts
Monday, December 27, 2010
Sunday, October 24, 2010
Belmont County, OH: Marcellus Shale Update
By Andrea: http://oilshalegas.com
Consol Energy Inc. (CNX) recently release an update on the Marcellus Shale in Greene County, Pennsylvania:
Consol Energy Inc. (CNX), the leading diversified fuel producer in the Appalachian Basin, reported total coal production of 14.7 million tons for the quarter ended September 30, 2010. Included in the total was 1.3 million tons of low-vol coal produced by the company's Buchanan Mine.
CONSOL's Gas Division achieved record quarterly production of 35.8 Bcf for the quarter ended September 30, 2010. This was 44% higher than the 24.8 Bcf produced in last year's September quarter, and 12% higher than the 31.9 Bcf produced in the quarter ended June 30, 2010.
The Gas Division began the quarter with one horizontal rig running in Greene County, Pennsylvania and ended the quarter with three horizontal rigs operating. The original horizontal rig left its base in Greene County, in order to drill in nearby Belmont County, Ohio. Beginning at a depth of 8,450 feet, the rig encountered 200 feet of Utica Shale. The vertical well, un-stimulated, flowed 1.5 MMCF of gas in a 24-hour period.
CONSOL Energy has over 70,000 acres in and around the discovery well in Belmont County. "While most of our delineation efforts are focused on the Marcellus Shale," commented J. Brett Harvey, Chairman and CEO, "our vast acreage holdings include other zones that warrant testing, including the Utica Shale. As a result of this discovery, we will shift some of our exploration capital to this shale in 2011."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Consol Energy Inc. (CNX) recently release an update on the Marcellus Shale in Greene County, Pennsylvania:
Consol Energy Inc. (CNX), the leading diversified fuel producer in the Appalachian Basin, reported total coal production of 14.7 million tons for the quarter ended September 30, 2010. Included in the total was 1.3 million tons of low-vol coal produced by the company's Buchanan Mine.
CONSOL's Gas Division achieved record quarterly production of 35.8 Bcf for the quarter ended September 30, 2010. This was 44% higher than the 24.8 Bcf produced in last year's September quarter, and 12% higher than the 31.9 Bcf produced in the quarter ended June 30, 2010.
The Gas Division began the quarter with one horizontal rig running in Greene County, Pennsylvania and ended the quarter with three horizontal rigs operating. The original horizontal rig left its base in Greene County, in order to drill in nearby Belmont County, Ohio. Beginning at a depth of 8,450 feet, the rig encountered 200 feet of Utica Shale. The vertical well, un-stimulated, flowed 1.5 MMCF of gas in a 24-hour period.
CONSOL Energy has over 70,000 acres in and around the discovery well in Belmont County. "While most of our delineation efforts are focused on the Marcellus Shale," commented J. Brett Harvey, Chairman and CEO, "our vast acreage holdings include other zones that warrant testing, including the Utica Shale. As a result of this discovery, we will shift some of our exploration capital to this shale in 2011."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Saturday, September 25, 2010
Webb County, TX: Eagle Ford Shale Pipeline
By Andrea: http://oilshalegas.com
Swift Energy will soon begin construction of a pipeline through Webb County, TX in the Eagle Ford shale, expected to be completed by December 1, 2010:
Swift Energy Company (SFY) recently announced that it has entered into a long term agreement for natural gas gathering and treating services in South Texas with Meritage Midstream Services’ subsidiary, Eagle Ford Escondido Gathering. This agreement will involve the construction of a new pipeline to the Company’s Fasken operating area in Webb County, TX. Swift Energy will have up to 40 million cubic feet of gas per day of firm capacity on this new pipeline. The Company currently expects all required construction to be completed by December 1, 2010.
Swift Energy has agreed to a long term sales contract with Kinder Morgan Texas Pipeline LLC that is indexed to market and will be delivered to a new connection with the Kinder Morgan system.
Swift Energy has also extended contracts for two horizontal rigs currently drilling for the Company by 12 and 15 months from their current terms due to expire in December 31, 2010. With these contracts in place, the Company will enter 2011 with three South Texas horizontal drilling rigs under long term contracts.
“These separate agreements for dedicated gathering and drilling services further reduce Swift Energy’s exposure to the continuing tightness of oilfield services and gathering outlets facing operators in South Texas,” said Terry Swift, Swift Energy’s chief executive officer. “We expect an increase in operating activity in 2011 and have taken numerous steps to ensure that we can drill, complete and produce our wells without interruption due to third party service constraints.”
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Swift Energy will soon begin construction of a pipeline through Webb County, TX in the Eagle Ford shale, expected to be completed by December 1, 2010:
Swift Energy Company (SFY) recently announced that it has entered into a long term agreement for natural gas gathering and treating services in South Texas with Meritage Midstream Services’ subsidiary, Eagle Ford Escondido Gathering. This agreement will involve the construction of a new pipeline to the Company’s Fasken operating area in Webb County, TX. Swift Energy will have up to 40 million cubic feet of gas per day of firm capacity on this new pipeline. The Company currently expects all required construction to be completed by December 1, 2010.
Swift Energy has agreed to a long term sales contract with Kinder Morgan Texas Pipeline LLC that is indexed to market and will be delivered to a new connection with the Kinder Morgan system.
Swift Energy has also extended contracts for two horizontal rigs currently drilling for the Company by 12 and 15 months from their current terms due to expire in December 31, 2010. With these contracts in place, the Company will enter 2011 with three South Texas horizontal drilling rigs under long term contracts.
“These separate agreements for dedicated gathering and drilling services further reduce Swift Energy’s exposure to the continuing tightness of oilfield services and gathering outlets facing operators in South Texas,” said Terry Swift, Swift Energy’s chief executive officer. “We expect an increase in operating activity in 2011 and have taken numerous steps to ensure that we can drill, complete and produce our wells without interruption due to third party service constraints.”
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
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