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.

EOG Resources Reports Production On Six Barnett Shale Wells

EOG Resources (EOG) reported the production results for six wells drilled into the Barnett Shale combo play in Montague County in Texas.  The names and the initial production rates of these Barnett Shale wells are:

Ketchum Unit #1H – 496 barrels of oil and 354,000 cubic feet of natural gas per day.

Ketchum Unit #2H - 638 barrels of oil and 455,000 cubic feet of natural gas per day.

The Farrell Unit A #1H, Farrell Unit A #2H, Farrell Unit B #3H and Farrell Unit B #4H wells had initial production rates ranging from 335 to 475 barrels of oil per day and from one million to 1.4 million cubic feet of natural gas per day.

EOG Resources Reports Nine Barnett Shale Combo Completions

EOG Resources (EOG) reported on the development of the Barnett Combo play in the Fort Worth Basin in Texas.  The company is active in Cooke and Montague counties and disclosed the results of nine wells completed during the second quarter of 2011.

Cooke County

The Gaedke A Unit #3H, Gaedke A Unit #4H, Gaedke B Unit #5H, Gaedke B Unit #6H and Gaedke B Unit #7H had production rates ranging from 338 to 696 barrels of oil per day, along with 807,000 to 2.15 million cubic feet of natural gas per day.

Montague County

The Stoddard A Unit #1H, Stoddard B Unit #2H, Stoddard C Unit #3H and Stoddard D Unit #4H had production rates ranging from 777 to 918 barrels of oil per day, along with 1.2 million cubic to 2.6 million cubic feet of natural gas per day.