QEP Resources (QEP) issued an operational update on its activities in the Haynesville Shale, where the company has 50,750 net acres under lease in the core area of the play.
First Quarter of 2011
QEP Resources put ten wells onto production and reported that the company average drill time for Haynesville Shale wells was 32 days (spud to total depth), down from 37 days previously. The company said that its average cost to drill and complete a Haynesville Shale well was $9.1 million, down from $9.3 million in the previous quarter.
QEP Resources reported average production of 257 million cubic feet equivalent per day from well in the Haynesville Shale. The company has 24 wells waiting on completion and has 6 rigs operating in the play.