Barnett Shale

Quicksilver Resources Updates Barnett Shale Operations For First Quarter Of 2011

Quicksilver Resources (KWK) issued an operational update for the first quarter of 2011 on the company’s development of properties in North Texas that are prospective for the Barnett Shale.  The company has 155,000 net acres under lease with exposure to this play.

Quicksilver Resources operated two rigs in the Barnett Shale during the quarter and drilled 17 gross or 15 net wells.  The company also connected 50 gross or 45.2 net wells to sales during the quarter.

Quicksilver Resources has approximately ninety drilled wells that are waiting on completion or waiting to be connected to pipeline or other infrastructure.  This inventory will be reduced to 45 wells by the end of 2011.

Pioneer Natural Resources - Barnett Shale Combo Play - Q1 2011 Update

Pioneer Natural Resources (PXD) updated the company’s first quarter of 2011 operations in the Barnett Shale Combo play in Texas.  The company has 70,000 net acres under lease and approximately 600 drilling locations.

Pioneer Natural Resources started drilling here in late 2010, and is operating two rigs in the play.  The company has drilled 24 wells, completed ten and is producing from five. 

Pioneer Natural Resources reported that the last three wells completed in the Barnett Shale combo play had average production rates of 356 barrels of oil equivalent (BOE) per day during the first five days of production.  This production included 155 barrels of oil and 854,000 cubic feet of natural gas per day.

Pioneer Natural Resources plans total drilling capital spending of $1.6 billion in 2011, and has allocated $170 million for the Barnett Shale Combo play.

Devon Energy - Q1 2011 Barnett Shale Update

Devon Energy (DVN) updated investors on its oil and gas development activities in the Barnett Shale play in Texas, where the company has 489,000 net acres under lease.

Devon Energy reported that production during the first quarter of 2011 averaged 1.2 billion cubic feet of natural gas equivalents per day, with 43,000 barrels per day of liquids production.  The company said that total Barnett Shale production increased 11% over the same quarter in 2010.

Devon Energy has 4,600 producing wells in the play and plans to drill 325 Barnett Shale wells in 2011.