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.

EnCana Looks To Sell Barnett Shale Assets

EnCana (ECA) reported that the company is looking to sell its Barnett Shale assets in the Fort Worth Basin in Texas.  The sale is part of the company’s plans to divest between $1 billion and $2 billion in assets in 2011.

EnCana has 52,000 net acres in the Barnett Shale and these assets currently produce 125 million cubic feet of natural gas equivalents per day.

Devon Energy - Q2 2011 - Barnett Shale Update

Devon Energy (DVN) was one of the earliest operators in the Barnett Shale in Texas, and continued to develop this play during the second quarter of 2011.

Devon Energy reported average daily production of 1.28 billion cubic feet of natural gas per day during the most recent quarter, up 13% over the same quarter in 2010.  This production included 46,000 barrels per day of liquids.

Devon Energy has 624,000 net acres under lease and plans to drill a total of 375 wells into the Barnett Shale in 2011.