Southwestern Energy (SWN) has 540,000 net acres under lease that is prospective for the Lower Smackover Brown Dense formation. The acreage is located across parts of southern Arkansas and northern Louisiana.
Southwestern Energy said that the company’s average lease cost here was approximately $354 per acre and it holds an average net revenue interest of 82%. The leases have four year terms along with four year renewals.
Southwestern Energy is targeting an upper Jurassic age oil formation at depths of 8,000 feet and a thickness of 300 to 550 feet. The company has finished one well into the Lower Smackover Brown Dense formation and has at least two other wells in various stages of drilling or completion. The three wells are:
Roberson 18-19 1-15H - Columbia County, Arkansas
Garrett 7-23-5H 1 - Claiborne Parish, Louisiana
BML 31-22 1-1H - Union Parish, Louisiana
