Barnett Shale

Pioneer Natural Resources To Divest Barnett Shale Assets

Pioneer Natural Resources (PXD) is looking to sell its properties in the Barnett Shale as the company looks to focus capital on higher return projects.  These include the Spraberry, Wolfcamp Shale and the Eagle Ford Shale.

Pioneer Natural Resources has 155,000 gross acres and estimates that about 67% is in the Barnett Shale combo play, which typically produces a higher liquid hydrocarbon content.  The company reported current production from these properties of 7,000 barrels oil equivalent per day, with a 45% natural gas content.

Pioneer Natural Resources expects to complete the divestment process by the first quarter of 2013.

WPX Energy To Sell Barnett Shale Properties

WPX Energy (WPX) reported that the company has signed an agreement to sell producing oil and gas properties in the Barnett Shale. 

WPX Energy is selling 27,000 net acres with production of 67 million cubic feet of natural gas per day from 320 wells.  The company is also selling 91 miles of associated pipeline assets.

An investor group led by KKR Natural Resources and Premier Natural Resources is paying $306 million for the Barnett Shale assets and similar properties in the Arkoma Basin in Oklahoma.

Quicksilver Resources Updates Barnett Shale For Fourth Quarter of 2011

Quicksilver Resources (KWK) continued to develop the company’s Barnett Shale properties during the fourth quarter of 2011. The company disclosed the following operational details on recent activity here:

Q4 – 2011

• Drilled 14 gross or 12.4 net wells.
• Put 17 gross or 14.8 net wells onto sales.

2011

• Drilled 57 gross or 49.9 net wells.
• Put 128 gross or 49.9 net wells onto sales.

Quicksilver Resources has 50 gross operated Barnett Shale wells waiting on completion or pipeline.  The company is currently operating two rigs and plans to drop one rig here by the end of March 2012.

In 2012, Quicksilver Resources plans to drill 25 gross or 20 net Barnett Shale wells, and complete 36 gross or 32 net wells.