Barnett Shale

Devon Energy - First Quarter 2010 Barnett Shale Update

Devon Energy (DVN) released earnings for the first quarter of 2010, and updated its activities in many of its prospective oil and gas plays, including the Barnett Shale.

Devon Energy reported that its net production from its Barnett Shale properties averaged 1.1 billion cubic feet per day during the first quarter of 2010. This was up by 5% sequentially.

Devon Energy has 609,000 net acres in the Barnett Shale, including 512,000 in the core area, and 97,000 acres in what the company calls an “emerging” area of the play. The company plans to drill 370 net wells in 2010.

Carrizo Oil and Gas - Denton County Barnett Shale

Carrizo Oil and Gas (CRZO) presented at an energy conference in March 2010 and provided a breakdown on its properties in the Barnett Shale Carrizo Oil and Gas said that its core acreage in South Denton County has the following characteristics:

Initial Production Rate – 3 million cubic feet per day.

Estimated Ultimate Recovery – 3 Bcf.

Cost – $3.2 million.

Finding and Development Costs – $1.42 per Mcfe.

Completion Backlog – 4 gross wells.

Net Production – 8 million cubic feet equivalent per day.

XTO Energy - Barnett Shale Update

XTO Energy (XTO) updated its drilling operations in the Barnett Shale when it released earnings for the second quarter of 2009. The company has 277,000 net acres under lease, and is running 10 rigs. Production from its Barnett Shale properties averaged 621 million cubic feet equivalent per day.

XTO Energy reported the initial production rates of 9 wells that it completed during the second quarter of 2009 on its acreage in the core area of the Barnett Shale:
 
Gafford C 1H - 5.5 million cubic feet per day (MMCFPD)
Arlington Surber B 2H - 5.1 MMCFPD
Gafford D 1H - 4.6 MMCFPD
Mira Lagos Unit 3H - 4.6 MMCFPD
Britt Unit 12H - 4.5 MMCFPD
Gafford C 4H - 4.3 MMCFPD
Gafford D 4H - 4.2 MMCFPD
Graystone 2H - 4.1 MMCFPD
Mira Lagos Unit 2H - 4.1 MMCFPD

XTO Energy reported the initial production rates of 2 wells that it completed during the second quarter of 2009 on its acreage in the Tier 1 area of the Barnett Shale:
 
Hyles 3H - 2.1 MMCFPD
Hyles 2H - 2.0 MMCFPD ___________________________________________________________________

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