By Andrea: http://oilshalegas.com
The first two completions of the 2010 drilling program in the Ardmore Basin horizontal Woodford play at depths of 7,000 feet have yielded outstanding results. One well completed for an average production rate of 801 barrels of oil and NGLs per day and 2.3 Mmcf per day or 1,176 (362 net) Boe per day. The average rate for the second completion was 1,064 barrels of oil and NGLs per day and 2.7 Mmcf per day or 1,514 (702 net) Boe per day. One operated rig is currently active in the play, along with one non-operated rig. During the quarter, the 5,000-foot deep horizontal Mississippian Lime play in northern Oklahoma recorded another strong completion with average daily production rates of 260 barrels of oil and NGLs and 900 mcf or 410 (318 net) Boe per day. Two additional wells in the play are currently drilling. In addition, Range controls approximately 80,000 (42,000 net) legacy acres that are all held by production in the emerging Cana Shale play in the Anadarko Basin. While still early, it appears that a material portion of our acreage is in the core of the play. Given that all of Range's acreage is held by production, our strategy is to take a "wait and see approach," before determining how to best exploit our acreage position.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Saturday, October 30, 2010
Range Resources Corp. (RRC) : Huron Shale Update
By Andrea: http://oilshalegas.com
Recently, Range Resources Corp. (RRC) released an update on the Huron Shale, located in the Nora field in Virginia:
During the third quarter 2010, Range's Appalachian Division drilled a total of 61 (29 net) wells, continuing its successful development of tight gas sand, coal bed methane and horizontal drilling projects in the Nora field in Virginia. The division averaged five rigs running during the quarter and drilled 14 (7 net) vertical tight gas sand wells, 43 (20 net) coalbed methane wells and 4 (2 net) tight gas sand horizontal wells. On the recently acquired Nora extension property, the division has performed three well recompletions and implemented two pipeline and compression optimization projects that, in total, resulted in a 1,000 mcf per day (10%) increase in production. By year end, the Appalachian Division plans to drill five new tight gas sand wells and recomplete 12 existing wells on the extension properties.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Recently, Range Resources Corp. (RRC) released an update on the Huron Shale, located in the Nora field in Virginia:
During the third quarter 2010, Range's Appalachian Division drilled a total of 61 (29 net) wells, continuing its successful development of tight gas sand, coal bed methane and horizontal drilling projects in the Nora field in Virginia. The division averaged five rigs running during the quarter and drilled 14 (7 net) vertical tight gas sand wells, 43 (20 net) coalbed methane wells and 4 (2 net) tight gas sand horizontal wells. On the recently acquired Nora extension property, the division has performed three well recompletions and implemented two pipeline and compression optimization projects that, in total, resulted in a 1,000 mcf per day (10%) increase in production. By year end, the Appalachian Division plans to drill five new tight gas sand wells and recomplete 12 existing wells on the extension properties.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Denton County, TX: Barnett Shale Update
By Andrea: http://oilshalegas.com
Range Resources Corp. (RRC) recently released an update on the Barnett Shale located in Denton County, TX:
During the third quarter, the Southwestern Division continued its successful drilling program. In the Barnett Shale formation, Range initiated sales on three wells in Denton County at a combined average rate of 15.0 (11.3 net) Mmcfe per day, comprised of 8.1 (6.1 net) Mmcf per day and 1,156 (868 net) barrels of NGLs and oil per day. In addition, we began completion operations on five wells in Tarrant County and two wells in Ellis County with production scheduled to begin early in the fourth quarter of 2010. In West Texas at the Conger Field, the division deepened three wells to the Strawn formation and recompleted another well into the Wolfcamp formation. The three Strawn deepenings yielded a combined daily average rate of 551 (468 net) Boe per day, comprised of 437 (372 net) per day barrels of oil and NGLs and 685 (582 net) mcf per day. The Wolfcamp recompletion added 594 (505 net) Boe per day, comprised of 552 (469 net) barrels of oil and NGLs and 255 (217 net) mcf per day.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Range Resources Corp. (RRC) recently released an update on the Barnett Shale located in Denton County, TX:
During the third quarter, the Southwestern Division continued its successful drilling program. In the Barnett Shale formation, Range initiated sales on three wells in Denton County at a combined average rate of 15.0 (11.3 net) Mmcfe per day, comprised of 8.1 (6.1 net) Mmcf per day and 1,156 (868 net) barrels of NGLs and oil per day. In addition, we began completion operations on five wells in Tarrant County and two wells in Ellis County with production scheduled to begin early in the fourth quarter of 2010. In West Texas at the Conger Field, the division deepened three wells to the Strawn formation and recompleted another well into the Wolfcamp formation. The three Strawn deepenings yielded a combined daily average rate of 551 (468 net) Boe per day, comprised of 437 (372 net) per day barrels of oil and NGLs and 685 (582 net) mcf per day. The Wolfcamp recompletion added 594 (505 net) Boe per day, comprised of 552 (469 net) barrels of oil and NGLs and 255 (217 net) mcf per day.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Range Resources Corp. (RRC) : Marcellus Shale Update
By Andrea: http://oilshalegas.com
Range Resources Corp. (RRC) recently released an update on the Marcellus shale located in Washington County, PA and Lycoming County, PA:
Range's Marcellus production exit rate for the third quarter was 191 Mmcfe per day net. Approximately 71% of the production was natural gas and 29% was NGLs and condensate. At the end of the third quarter, approximately 34 Mmcfe per day of net production was shut in waiting on gathering and compression facilities currently under construction. In addition, Range has drilled 44 wells that are waiting on completion, of which 23 are scheduled to be completed prior to year-end. Given excellent drilling results through the first nine months of the year, Range is well-positioned to meet or exceed its Marcellus Shale year-end 2010 production exit rate target of 200 to 210 Mmcfe per day net.
During the third quarter, the Marcellus Division brought online a total of 18 horizontal wells in southwestern Pennsylvania, all in the liquids-rich "wet area" of the play. The wells had average lateral lengths of 3,291 feet and averaged 11 frac stages. The initial seven-day gross production rate for the 18 wells averaged 8.5 Mmcfe per day. All 18 wells are initially producing under somewhat constrained conditions due to gathering and compression capacity, as the facilities are not designed for peak production. Based on initial production results, we expect the average estimated ultimate recovery (EUR) of these 18 wells to exceed our average reserve estimate of 5.0 Bcfe per well for the southwest portion of Pennsylvania. Given low natural gas prices, we plan to drill fewer wells per pad, utilizing moderate lateral lengths and frac stages. This will allow us to build production with lower cycle times, while efficiently developing our leasehold position and generating outstanding well economics.
Providing additional upside resource potential from this region without additional acreage costs are a variety of shale formations that lie above the Marcellus formation. Range has now drilled and completed an initial horizontal test well to the Upper Devonian shales. Our first test indicates significant gas in place. The average seven-day test rate for the initial well was 5.1 Mmcfe per day. Range plans several more Upper Devonian test wells in 2011. We believe that a majority of our acreage in the southwest portion of the play is prospective for the Upper Devonian shales.
Over the past two years, Range has concentrated its leasing activities to filling in and blocking up its key acreage positions. In addition to acquiring fill-in leases in these areas, we have completed several acreage trades with third parties. The acreage trades allow each party to block up their respective leasehold positions. Recently, Range completed a trade in which it acquired approximately 42,000 net acres in our core area of southwestern Pennsylvania. The new acreage has longer term and adds more than 500 horizontal drilling locations in Washington County, an area where infrastructure is already in place and Range has had significant drilling success. To facilitate the trade, Range transferred approximately 55,000 net acres, of which 47,000 acres are located in West Virginia and 8,000 acres are located in Bradford and Sullivan counties in northeastern Pennsylvania.
The Marcellus infrastructure build out continues to progress on schedule. In the southwestern portion of the play, committed wet gas processing capacity has increased to 185 Mmcf per day, and is scheduled to expand to 390 Mmcf per day by third quarter 2011. Range also has access to an additional 40 Mmcf per day of wet gas processing on an interruptible basis. Dry gas capacity is currently 25 Mmcf per day in southwestern Pennsylvania, increasing to 65 Mmcf per day by year-end 2010. In the northeastern portion of the play, the build out of the first phase 150 Mmcf per day Lycoming County gathering system is on schedule for a year-end 2010 start up, with capacity increasing to as much as 350 Mmcf per day by year-end 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Range Resources Corp. (RRC) recently released an update on the Marcellus shale located in Washington County, PA and Lycoming County, PA:
Range's Marcellus production exit rate for the third quarter was 191 Mmcfe per day net. Approximately 71% of the production was natural gas and 29% was NGLs and condensate. At the end of the third quarter, approximately 34 Mmcfe per day of net production was shut in waiting on gathering and compression facilities currently under construction. In addition, Range has drilled 44 wells that are waiting on completion, of which 23 are scheduled to be completed prior to year-end. Given excellent drilling results through the first nine months of the year, Range is well-positioned to meet or exceed its Marcellus Shale year-end 2010 production exit rate target of 200 to 210 Mmcfe per day net.
During the third quarter, the Marcellus Division brought online a total of 18 horizontal wells in southwestern Pennsylvania, all in the liquids-rich "wet area" of the play. The wells had average lateral lengths of 3,291 feet and averaged 11 frac stages. The initial seven-day gross production rate for the 18 wells averaged 8.5 Mmcfe per day. All 18 wells are initially producing under somewhat constrained conditions due to gathering and compression capacity, as the facilities are not designed for peak production. Based on initial production results, we expect the average estimated ultimate recovery (EUR) of these 18 wells to exceed our average reserve estimate of 5.0 Bcfe per well for the southwest portion of Pennsylvania. Given low natural gas prices, we plan to drill fewer wells per pad, utilizing moderate lateral lengths and frac stages. This will allow us to build production with lower cycle times, while efficiently developing our leasehold position and generating outstanding well economics.
Providing additional upside resource potential from this region without additional acreage costs are a variety of shale formations that lie above the Marcellus formation. Range has now drilled and completed an initial horizontal test well to the Upper Devonian shales. Our first test indicates significant gas in place. The average seven-day test rate for the initial well was 5.1 Mmcfe per day. Range plans several more Upper Devonian test wells in 2011. We believe that a majority of our acreage in the southwest portion of the play is prospective for the Upper Devonian shales.
Over the past two years, Range has concentrated its leasing activities to filling in and blocking up its key acreage positions. In addition to acquiring fill-in leases in these areas, we have completed several acreage trades with third parties. The acreage trades allow each party to block up their respective leasehold positions. Recently, Range completed a trade in which it acquired approximately 42,000 net acres in our core area of southwestern Pennsylvania. The new acreage has longer term and adds more than 500 horizontal drilling locations in Washington County, an area where infrastructure is already in place and Range has had significant drilling success. To facilitate the trade, Range transferred approximately 55,000 net acres, of which 47,000 acres are located in West Virginia and 8,000 acres are located in Bradford and Sullivan counties in northeastern Pennsylvania.
The Marcellus infrastructure build out continues to progress on schedule. In the southwestern portion of the play, committed wet gas processing capacity has increased to 185 Mmcf per day, and is scheduled to expand to 390 Mmcf per day by third quarter 2011. Range also has access to an additional 40 Mmcf per day of wet gas processing on an interruptible basis. Dry gas capacity is currently 25 Mmcf per day in southwestern Pennsylvania, increasing to 65 Mmcf per day by year-end 2010. In the northeastern portion of the play, the build out of the first phase 150 Mmcf per day Lycoming County gathering system is on schedule for a year-end 2010 start up, with capacity increasing to as much as 350 Mmcf per day by year-end 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Friday, October 29, 2010
Roosevelt County, MT: Bakken Shale Update
By Andrea: http://oilshalegas.com
Voyager Oil and Gas Inc. (VYOG.OB) recently released an update on the Bakken Shale located in Roosevelt County, MT:
Voyager currently controls approximately 24,000 net acres in the Williston Basin, primarily in Williams, McKenzie and Mountrail Counties, North Dakota and Richland and Roosevelt Counties, Montana. Voyager has spud twelve gross Bakken wells, of which three are producing, four are drilling and five are completing. By the end of 2010, Voyager expects to spud 15 gross Bakken wells. In 2011, Voyager expects to spud approximately 35 gross and 5 net Bakken wells based on recent permitting activity on Voyager's leasehold interests. J.R. Reger, Voyager's CEO, commented, "The accelerated production and positive results across our Bakken/Three Forks position continue to remain within our original expectations. We believe that our 24,000 core acres are being developed by some of the best operators in the play and we are excited to be participating in this premier oil resource play. We continue to focus most of our efforts on leasing and acquisitions in the Bakken and Three Forks play. We are excited to be moving into the production ramp-up stage across our Bakken position. We expect substantial reserve and production additions over the coming months as the position is rapidly developed."
Voyager is currently participating in the following wells in Roosevelt County, MT:
OPERATOR WELL NAME COUNTY STATUS WI BOEPD
Brigham Swindle 16-9 1-H Roosevelt Drilling 18.75%
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Voyager Oil and Gas Inc. (VYOG.OB) recently released an update on the Bakken Shale located in Roosevelt County, MT:
Voyager currently controls approximately 24,000 net acres in the Williston Basin, primarily in Williams, McKenzie and Mountrail Counties, North Dakota and Richland and Roosevelt Counties, Montana. Voyager has spud twelve gross Bakken wells, of which three are producing, four are drilling and five are completing. By the end of 2010, Voyager expects to spud 15 gross Bakken wells. In 2011, Voyager expects to spud approximately 35 gross and 5 net Bakken wells based on recent permitting activity on Voyager's leasehold interests. J.R. Reger, Voyager's CEO, commented, "The accelerated production and positive results across our Bakken/Three Forks position continue to remain within our original expectations. We believe that our 24,000 core acres are being developed by some of the best operators in the play and we are excited to be participating in this premier oil resource play. We continue to focus most of our efforts on leasing and acquisitions in the Bakken and Three Forks play. We are excited to be moving into the production ramp-up stage across our Bakken position. We expect substantial reserve and production additions over the coming months as the position is rapidly developed."
Voyager is currently participating in the following wells in Roosevelt County, MT:
OPERATOR WELL NAME COUNTY STATUS WI BOEPD
Brigham Swindle 16-9 1-H Roosevelt Drilling 18.75%
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Thursday, October 28, 2010
Mountrail County, ND: Bakken shale Update
By Andrea: http://oilshalegas.com
Voyager Oil and Gas Inc. (VYOG.OB) recently released an update on the Bakken Shale located in Mountrail County, ND:
Voyager currently controls approximately 24,000 net acres in the Williston Basin, primarily in Williams, McKenzie and Mountrail Counties, North Dakota and Richland and Roosevelt Counties, Montana. Voyager has spud twelve gross Bakken wells, of which three are producing, four are drilling and five are completing. By the end of 2010, Voyager expects to spud 15 gross Bakken wells. In 2011, Voyager expects to spud approximately 35 gross and 5 net Bakken wells based on recent permitting activity on Voyager's leasehold interests. J.R. Reger, Voyager's CEO, commented, "The accelerated production and positive results across our Bakken/Three Forks position continue to remain within our original expectations. We believe that our 24,000 core acres are being developed by some of the best operators in the play and we are excited to be participating in this premier oil resource play. We continue to focus most of our efforts on leasing and acquisitions in the Bakken and Three Forks play. We are excited to be moving into the production ramp-up stage across our Bakken position. We expect substantial reserve and production additions over the coming months as the position is rapidly developed."
Voyager is currently participating in the following wells in Mountrail County, ND:
OPERATOR WELL NAME COUNTY STATUS WI BOEPD
Slawson Ripper #1-22H Mountrail Producing 1.11% 2,369
Brigham Ross-Alger 6-7 #1H Mountrail Producing 7.71% 3,070
Slawson Vixen #1-19-30H Mountrail Completing 2.28%
EOG Lostwood 13-25H Mountrail Drilling 0.52%
EOG Sidonia 38-3019H Mountrail Preparing 0.12%
EOG Sidonia 31-3019H Mountrail Preparing 0.12%
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Voyager Oil and Gas Inc. (VYOG.OB) recently released an update on the Bakken Shale located in Mountrail County, ND:
Voyager currently controls approximately 24,000 net acres in the Williston Basin, primarily in Williams, McKenzie and Mountrail Counties, North Dakota and Richland and Roosevelt Counties, Montana. Voyager has spud twelve gross Bakken wells, of which three are producing, four are drilling and five are completing. By the end of 2010, Voyager expects to spud 15 gross Bakken wells. In 2011, Voyager expects to spud approximately 35 gross and 5 net Bakken wells based on recent permitting activity on Voyager's leasehold interests. J.R. Reger, Voyager's CEO, commented, "The accelerated production and positive results across our Bakken/Three Forks position continue to remain within our original expectations. We believe that our 24,000 core acres are being developed by some of the best operators in the play and we are excited to be participating in this premier oil resource play. We continue to focus most of our efforts on leasing and acquisitions in the Bakken and Three Forks play. We are excited to be moving into the production ramp-up stage across our Bakken position. We expect substantial reserve and production additions over the coming months as the position is rapidly developed."
Voyager is currently participating in the following wells in Mountrail County, ND:
OPERATOR WELL NAME COUNTY STATUS WI BOEPD
Slawson Ripper #1-22H Mountrail Producing 1.11% 2,369
Brigham Ross-Alger 6-7 #1H Mountrail Producing 7.71% 3,070
Slawson Vixen #1-19-30H Mountrail Completing 2.28%
EOG Lostwood 13-25H Mountrail Drilling 0.52%
EOG Sidonia 38-3019H Mountrail Preparing 0.12%
EOG Sidonia 31-3019H Mountrail Preparing 0.12%
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Canadian County, OK: Woodford Shale Update
By Andrea: http://oilshalegas.com
Continental Resources Inc. (CLR) recently released an update on the Woodford Shale stretching from Dewey County, OK through Grady County, OK:
Continental also announced that it recently completed a strong confirmation well in the Southeast Cana area of the Anadarko Woodford play in Oklahoma in the third quarter of 2010. The Dana 1-29H flowed at 2.5 MMcfpd natural gas (million cubic feet per day) and 88 Bopd (barrels of oil per day) in its initial one-day test period. This was Continental's third and most productive test well completed in the southeastern portion of the Anadarko Woodford play, validating the productivity and scope of the play from Dewey County in the northwest through Canadian County to Grady County in the southeast, a span of approximately 100 miles.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Continental Resources Inc. (CLR) recently released an update on the Woodford Shale stretching from Dewey County, OK through Grady County, OK:
Continental also announced that it recently completed a strong confirmation well in the Southeast Cana area of the Anadarko Woodford play in Oklahoma in the third quarter of 2010. The Dana 1-29H flowed at 2.5 MMcfpd natural gas (million cubic feet per day) and 88 Bopd (barrels of oil per day) in its initial one-day test period. This was Continental's third and most productive test well completed in the southeastern portion of the Anadarko Woodford play, validating the productivity and scope of the play from Dewey County in the northwest through Canadian County to Grady County in the southeast, a span of approximately 100 miles.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
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