QEP Resources (QEP) released an update on the company’s operations in Louisiana where it is developing the Haynesville Shale.
QEP Resources reported average net production of approximately 238 million cubic feet of natural gas equivalents per day from the Haynesville Shale during the third quarter of 2011. The company is still restricting the flow rates on Haynesville Shale wells to minimize reservoir damage and believes that this will lead to higher estimated ultimate recoveries. Other operational details:
- Year to date 2011 gross completed well costs averaged $9.1 million, down from $9.3 million in 2010.
- Year to date spud to total depth averaged 32 days in 2011, down from 37 days in 2010.
- Completed thirteen operated Haynesville Shale wells since last operational update.
- Six operated rigs working and seven operated wells either waiting or in the process of completion.
- Participated in fourteen non operated wells in the Haynesville Shale during the third quarter of 2011 that were put onto production.
- Company has eight non operated wells that are waiting on completion.