Barnett Shale

Pioneer Natural Resources Updates Barnett Shale Operations

Pioneer Natural Resources Company (NYSE:PXD) issued an operations update on its activities in the Barnett Shale in north Texas.  The company has 48,000 net acres and is continuing to add to its position in the Barnett Shale Combo play area where wells have a high liquids content. 

Pioneer Natural Resources estimates that it has 500 drilling locations on its acreage and is modeling well costs of $2.8 million, and a gross estimated ultimate recovery (EUR) of 320,000 barrels oil equivalent (BOE) per well.  The internal rate of return is estimated at 45% before tax.

Pioneer Natural Resources is operating one rig in the Barnett Shale and is conducting a seismic program that will eventually cover 150 square miles

Carrizo Oil and Gas - Tier Two 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 acreage that the company calls Tier 2, which is located outside of Tarrant and Denton County has the following characteristics:

Initial Production Rate – 1.2 million cubic feet per day.

Estimated Ultimate Recovery – 0.8 Bcf Cost – $1.5 million.

Finding and Development Costs – $2.44 per Mcfe.

Completion Backlog – 1 gross well.

Net Production – 1 million cubic feet equivalent per day.

Carrizo Oil and Gas - Tier One 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 acreage that the company calls Tier 1, which is located outside of Tarrant and Denton County has the following characteristics:

Initial Production Rate – 1.5 million cubic feet per day.

Estimated Ultimate Recovery – 1.8 Bcfe.

Cost – $2.1 million.

Finding and Development Costs - $1.54 per Mcfe

Completion Backlog – 1 gross well.

Net Production – 12 million cubic feet equivalent per day.