Barnett Shale

Quicksilver Resources Updates Barnett Shale Operations

Quicksilver Resources (KWK) issued an operations update on its activities in the Barnett Shale in Texas during the third quarter of 2010. 

Quicksilver Resources drilled 22 gross or 19 net wells and brought 28 gross, or 23.9 net wells onto production during the third quarter of 2010.

Quicksilver Resources is currently operating three rigs in the Barnett Shale and will keep its rig count at this level in the fourth quarter of 2010. The company has four hydraulic fracturing crews working to complete wells in the Barnett Shale and expects to have ninety uncompleted wells by the end of 2010.

Carrizo Oil and Gas Issues Barnett Shale Update

Carrizo Oil and Gas (CRZO) issued an operations update on its activities in the Barnett Shale in the Fort Worth Basin in Texas.

In the fourth quarter of 2009, Carrizo Oil and Gas drilled 9.2 net wells in the Barnett Shale, and performed hydraulic fracturing on 15.9 net wells. The company put 7.8 wells on production in the Barnett Shale.

Carrizo Oil and Gas has an inventory of 32.7 net horizontal wells in the Barnett Shale that have been drilled but not completed. The company estimates that the aggregate initial production rate for these wells amounts to approximately 73 million cubic feet equivalent per day.

In 2010, Carrizo Oil and Gas has allocated $130 million in capital to drill and complete wells in the Barnett Shale. This includes 20 drilled but uncompleted wells in its inventory.

Chesapeake Energy Reports Best Barnett Shale Well Ever

Chesapeake Energy Corporation (CHK) reported the highest producing natural gas well in the Barnett Shale ever drilled. The company said that based on the production to date, the well would produce 10 billion cubic feet of gas during its lifetime.

The Day Kimball Hill #A1 is located in Southeast Tarrant County, Texas, and produced an average of 12.97 million cubic feet of natural gas per day in October 2009. Since shale gas wells decline sharply during the first few years, this Barnett Shale well has seen its production fall to 8.66 million cubic feet in November and 6.79 million in December.

The Day Kimball Hill #A1 cost $2.6 million to drill and complete and will produce natural gas for 50 years. The well was drilled to a vertical depth of approximately 8333 feet and the completed with a 7500 foot lateral, and a 16 stage hydraulic fracturing operation.