Cana-Woodford Shale - Devon Energy (DVN)

By Tim - http://oilshalegas.com

Devon Energy (DVN) provides a drilling update for the Cana-Woodford Shale located on Oklahoma.

Moving now to the Cana-Woodford Shale in Western Oklahoma. Our Cana gas plant was back fully operational in December, following repairs of the damage incurred last May from a tornado. This helped us achieve our target exit rate for the Cana of 275 million cubic feet equivalent per day. Fourth quarter net production increased 83% over the year-ago quarter to a record 250 million cubic feet of gas equivalent per day, including 3,100 barrels of oil and 7,400 barrels of natural gas liquids per day. This significant liquids contribution, combined with our low acreage and royalty costs, enable us to generate strong full-cycle returns in the current commodity price environment.

In 2012, we plan to invest some $870 million of capital and drill nearly 200 wells in Cana. Our Cana activity will be focused in the oil and natural gas liquids-rich portion of the core area. Liquids should represent almost 40% of the production stream generated by the 2012 capital program. Cana oil and liquids production is expected to grow over 85% to an average of 16,000 barrels per day in 2012.

From a reserves performance perspective, Cana was a leading growth area for the company in 2011. Extensions, discoveries and performance revisions at Cana accounted for 160 million barrels of oil equivalent of additions. At year end, we had 328 million equivalent barrels booked in the Cana-Woodford. With almost 2 billion barrels equivalent of risked resource potential and more than 5,000 risked locations remaining, we expect Cana to deliver many more years of highly economic production and reserves growth.

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Woodford Shale - Exxon Mobil (XOM)

By Tim - http://oilshalegas.com

November 5, 2011 - Exxon Mobile (XOM) is now heavily involved in the Woodford Shale as of late 2011. The Woodford Shale and Cana Woodford Shale have been explored by many companies for oil in 2011. Oklahoma residents have been signing away mineral rights leases at a record pace. Exxon Mobile (XOM) had this to say about the Woodford Formation.

"We are also involved in multiple emerging liquids-rich shale plays, the most active of which is the Woodford shale in the southern Oklahoma Ardmore Basin area. To date, we have amassed more than 150,000 net acres in this play through an aggressive leasing and acquisitions program. This leadership position has been built at an attractive cost. As we acquired resources for approximately $0.30 per 1,000 cubic feet equivalent and added the leasehold for under $600 per acre.Our activity in the Woodford Ardmore play has ramped up significantly in 2011, with our operated rig count increasing from 3 to 7 rigs and gross operated production more than tripling since year-end 2010.

In our core development area, peak 7-day gross production rates have averaged 325 barrels per day of crude oil and 3.7 million cubic feet per day of natural gas, with a rich 1,275 BTU gas also yielding significant natural gas liquids, providing an average liquids rate per well of over 750 barrels per day and 2.9 million cubic feet per day of sales gas. We are continuing to ramp up drilling activity and are progressing both marketing and infrastructure plans for the play.

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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=

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Woodford Shale: PQ Petroquest 2009

Petroquest Energy released earnings this morning and gave investors an operational update on how the Woodford Shale is going. January 29, 2009

As previously announced, the Company completed two operated horizontal wells in the Woodford Shale during October 2008. The Company recently completed three additional operated horizontal wells during the fourth quarter of 2008. The following is a summary of the results:

In addition to the above completions, the Company initiated completion operations on its 7,057 foot extended lateral well. After conducting two stages of the completion, the wellbore encountered mechanical problems. The Company has repaired the wellbore and the first two stages began producing at rates as high as 3,695 Mcf. The Company plans to conduct the remaining 16 stages of the completion during 2009. The Company estimates that its current net production from its Oklahoma properties is approximately 40 MMcfe per day.

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