QEP Resources (QEP) issued an operations update on its properties that are prospective for the Woodford Shale in Oklahoma. The company has 66,000 net acres under lease, with 45,000 acres in the tier one part of the Cana Woodford Shale, and 21,000 acres in the tier two area.
QEP Resources is currently drilling two wells in the Woodford Shale and has two wells waiting on completion. The company is also participating on a non-operated basis in thirteen wells being drilled and another thirteen wells being completed.
QEP Resources reports that production from the Woodford Shale is approximately 31 million cubic feet equivalent per day as of 9/30/2010. QEP Resources is operating two rigs in the Woodford Shale. The most recent well that the company completed was the Stroud 1-3H, which was put to sales on October 19, 2010. No production data is available yet on this Woodford Shale well.