By Tim - http://oilshalegas.com
Chevron Corporation (NYSE:CVX) recently updated investors on It's Utica Shale prospective acreage. Chevron (CVX) has a large position in the Utica Shale but has not started drilling yet.
Evan Calio - Morgan Stanley
Okay. And a second question for George and maybe more pointed than Paul's. I mean, clearly, excitement's been building on the Utica shale opportunity. And then something that's a bit of a focus this morning with Chesapeake's release and conference call. I know and I believe Chevron has 600,000 acres that you disclosed that has Utica oil shale exposure. But you didn't call that out in Slide 17. Maybe you could discuss how you're thinking about activity there and play potential into 2012?
George Kirkland
Okay. Well, let me first say we believe it's a little bit too soon to conclude on the potential of the Utica. We've got a good acreage position in the Utica from the Atlas acquisition. We're going to do what we do everywhere in the world. We're going to evaluate that. And the only the way we can evaluate it is we're going to have to drill some wells and test performance. So it's something for the future, but it's, like you say, too early at this point in time to, I think, hype it.
The Utica Shale holds both Oil & Natural Gas and extends down from Canada into the states of New York, Pennsylvania, Ohio, and West Virginia. Chesapeake Energy (CHK) recently announced a major oil discovery in the Utica Shale Field and is excited about the prospects in Ohio. Could Utica Shale be as big as the Eagle Ford Shale? Only time will tell!
http://oilshalegas.com/uticashale.html
Showing posts with label oil and gas. Show all posts
Showing posts with label oil and gas. Show all posts
Tuesday, August 2, 2011
Saturday, July 30, 2011
Big Tex Horizontal Well - Bissett 9701 - Producing 788 BOED
By Tim - http://oilshalegas.com
Whiting Petroleum (WLL) has released data on one if their Big Tex well today, Bissett 9701, which is located in the Permian Basin. Whiting Petroleum (WLL) is an oil driller that focuses on the Bakken Shale & Niobrara Shale but has recently tested the Big Tex.
Big Tex First Horizontal Well, Bissett 9701, Producing 788 BOE/D After Fracture Stimulation
Big Tex Prospect. Whiting fraced its first horizontal well at the Big Tex prospect the first week of July 2011. The Bissett 9701, located in the Delaware Basin in Pecos County, Texas, produced 788 BOE per day (92% oil) from the Wolfbone on July 25, 2011. The well is still cleaning up after frac. The well's 3,610-foot lateral was fracture stimulated in a total of 16 stages, all using sliding sleeves.
As of July 15, 2011, Whiting had accumulated 116,494 gross (88,062 net) acres in our Big Tex prospect area in Pecos, Reeves and Ward Counties, Texas in the Delaware Basin. Our average acreage cost to date is $540 per net acre, and we have an average working interest of 76% and an average net revenue interest of 57%.
Whiting Petroleum (WLL) has released data on one if their Big Tex well today, Bissett 9701, which is located in the Permian Basin. Whiting Petroleum (WLL) is an oil driller that focuses on the Bakken Shale & Niobrara Shale but has recently tested the Big Tex.
Big Tex First Horizontal Well, Bissett 9701, Producing 788 BOE/D After Fracture Stimulation
Big Tex Prospect. Whiting fraced its first horizontal well at the Big Tex prospect the first week of July 2011. The Bissett 9701, located in the Delaware Basin in Pecos County, Texas, produced 788 BOE per day (92% oil) from the Wolfbone on July 25, 2011. The well is still cleaning up after frac. The well's 3,610-foot lateral was fracture stimulated in a total of 16 stages, all using sliding sleeves.
As of July 15, 2011, Whiting had accumulated 116,494 gross (88,062 net) acres in our Big Tex prospect area in Pecos, Reeves and Ward Counties, Texas in the Delaware Basin. Our average acreage cost to date is $540 per net acre, and we have an average working interest of 76% and an average net revenue interest of 57%.
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