Southwestern Energy Company (SWN) released details of its 2010 capital budget, and is allocating $230 million in capital to develop its acreage in the Haynesville Shale. Southwestern Energy will operate 2 horizontal rigs in the Haynesville Shale in 2010, and will drill between 50-60 gross (25-30 net wells) during 2010.
Southwestern Energy said that between 21 and 26 wells would be targeting the Haynesville or Middle Bossier Shales in East Texas, and the balance of the wells will be drilled to the James Lime, Pettet or Cotton Valley formations.
Southwestern Energy has approximately 33,000 net acres that are prospective for the Haynesville Shale.
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