QEP Resources (QEP) issued an update for the second quarter of 2011 on its development of the Haynesville Shale. The company has 50,600 net acres that are prospective for this play.
QEP Resources reported average daily production from the Haynesville Shale of 226 million cubic feet per day during the second quarter of 2011. The company said that net production was impacted by the decision to restrict production on wells to boost recoverable reserves in the long term.
QEP Resources said that the completed well cost of Haynesville Shale wells has averaged $9.1 million to date. The company’s spud to total depth averaged 32 days compared to 37 days in 2010.
QEP Resources has eleven operated Haynesville Shale wells in various stages of completion and will operate six rigs in the play for the balance of the year.