Marmaton
Our press release also noted a new successful, mid-continent horizontal oil play, the Marmaton sandstone in the Oklahoma Panhandle. During the quarter, we drilled 8 strong Marmaton wells, such as the 100% working interest Davis 3 No. 1H, which IP-ed at 1,050 barrels of oil per day with 5 million cubic a per day of rich gas for a $4.3 million well cost. We had 34,000 net acres in this play. Because we don't have a huge acreage position, this will be a contributory rather than a gain-breaking play for EOG, but it will help us grow mid-continent liquid volumes.
En tiedä miten hyvin tuo kaivo kuvaa Marmatonia, kun Unit Corpin mukaan heidän 18 tuoreimman Marmaton-horisontaalin IP30 oli 208 boeta ja EUR per kaivo on 130,000 boeta. UNT:n kaivojen keskihinta on kyllä $2.7 miljoonaa vs. EOG:n $4.3 miljoonaa(tupla pitkä horisontaali ja enemmän frakkeja?)
Niobrara
In our DJ Basin, Niobrara Play, we've expanded the acreage we've proven up. All the results reported to date had been on our 80,000 net acre Hereford Ranch prospect. This quarter, we drilled successful wells on an additional 89,000 net acres, expanding our prospective acreage to 169,000 net acres. The Niobrara has some unique production characteristics that we haven't seen in any other oil resource play. Some wells start out at lower initial rates but then exhibit much flatter declines in other plays. For example, the well that kicked off the play, the Jake 2-01H, started out at a 645 barrel of oil per day stabilized rate and is currently producing 275 barrels of oil per day, a low decline rate, 22 months later. To summarize the Niobrara, this will definitely be a contributory play for us, and with optimized frac technology we might turn it into an even more significant asset.
Niobrara-kaivon tuotantokäyrä on mitä ilmeisimmin todella uniikki epätavanomaisien resurssien joukossa. Bakkenissa, Eagle Fordissa ja Cardiumissa tuotanto laskee IP30:stä ensimmäisen vuoden loppuun mennessä säännönmukaisesti yli 70%, kun Niobrarassa pudotus näyttäisi jäävän usein alle 50%. Niobrarassa on paikoittain selvästi enemmän luonnollisia murtumia kuin muissa epätavanomaisissa, mikä lienee ainakin yksi tekijä matalamman laskun takana.
Vaca Muerta(Argentiina)
During the quarter, we also added 100,000 net acres in Argentina's Neuquen Basin. Our target is the Vaca Muerta shale, which we believe will be oil-productive. We'll drill our first 2 wells in 2012.
Q&A-osuudesta
Brian Lively - Tudor, Pickering, Holt & Co. Securities, Inc.
Just in the Niobrara, can you provide us with the resource estimate update on the 160,000 net acres that you think are de-risk at this point?
Mark Papa
Yes. We haven't really come out with the resource estimate yet on there. I mean, it's no secret that the Niobrara has proven to be, I'd say, one of the more complex horizontal oil plays that both we and the industry have dealt with. I'm sure you're aware there's been mixed results from various companies in the Niobrara. I'm pleased to say EOG probably has the best results in Niobrara than any company. But we're still in kind of an understanding and evaluation phase of it as opposed to -- so we really don't want to give a number at this point in time because there's pretty wide range.
Brian Lively - Tudor, Pickering, Holt & Co. Securities, Inc.
Well, maybe just on the Hereford Ranch area, even if the not total resource, what are you seeing sort of at the average EUR per well? Or just some context on that.
Unknown Executive
Yes, Brian, I'd say the averages is probably in the 200, 225 barrels of oil equivalent range. The good thing we're seeing on these wells is that many of them -- they don't come in at really extremely high IPs. They'll come in at, say, 300 or 400 barrels per day. But after a year or so, they're still making 200 barrels a day. So the decline rates are really low, and that's very encouraging to us. We also had a lot of encouragement on our step-out drilling, as Mark's indicated in his comments and in our press release. And so, just overall, we're real positive in what's going on, and I really think it's going to be a significant play for EOG. But again, we want to have a little bit more time to drill some more wells and to evaluate the production before we come out with a reserve potential number.
Lainattujen kommenttien lisäksi voi todeta että EOG:n Eagle Ford-maat ovat valtavan tuottoisa resurssi ja yhtiön arvio kaivojen keskimääräisestä ROR:stä verojen jälkeen on vieläkin noin 100%. Eagle Ford on kokonsa ja tuottoisuuntensa valossa lähes uskomatonta uudehkon teknologian menestystarina.
No comments:
Post a Comment