Barnett Shale

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.  

Devon Energy Updates Barnett Shale Operations

Devon Energy (DVN) reported average production of 220,100 barrels of oil equivalent (BOE) per day from the Barnett Shale in the fourth quarter of 2011. The company was operating 12 rigs at the end of 2011, but plans to drop two rigs in 2012.  Devon Energy drilled 83 gross wells during the quarter, and 309 during the full year.

Devon Energy has allocated $950 million in capital to develop properties in the Barnett Shale in 2012 and will drill 300 wells during the year.  Devon Energy reported proved reserves of 1.15 billion BOE in the Barnett Shale at the end of 2011.

Devon Energy is using pad drilling to develop the Barnett Shale and recently brought a 22 well pad onto production, with average initial production rates of 3.2 million cubic feet of natural gas equivalents per day.