Woodford Shale

Newfield Exploration - Cana Woodford Q3 2012 Operational Update

Newfield Exploration Company (NYSE:NFX) has 142,000 net acres in the Cana Woodford Shale and has operated between four and five rigs here in 2012.  The company is currently producing 9,800 barrels of oil equivalent (BOE) per day from the Cana Woodford play, with 60% of the production stream composed of liquids.

Newfield Exploration disclosed updated production information on various Cana Woodford Shale wells. 

Wright 1H-9 – initial gross production rate of 1,900 BOE per day and 100 day average rate of 1,050 BOE per day.  This was the highest initial production rate of any Newfield well in the South Cana area.

Branch 1H-16 – initial gross production rate of 1,850 BOE per day and 100 day average rate of 1,030 BOE per day.

Whitt 1H-25 - initial gross production rate of 1,050 BOE per day and 100 day average rate of 500 BOE per day.

Faith 1H-12 - initial gross production rate of 1,000 BOE per day and 100 day average rate of 880 BOE per day.

Greenwood 1H-4 – initial gross production rate of 1,000 BOE per day and 000 day average rate of 500 BOE per day.

Williams 1H-19 – initial gross production rate of 650 BOE per day and 100 day average rate of 400 BOE per day.

Mashburn 1H-4 – initial gross production rate of 1,390 BOE per day and 30 day average rate of 1,120 BOE per day.

Vinson 1H-14 – initial gross production rate of 1,090 BOE per day and 30 day average rate of 1,000 BOE per day.

Baxendale 1H-12 – initial gross production rate of 1,020 BOE per day and 30 day average rate of 900 BOE per day.

Klade 1H-19 – initial gross production rate of 925 BOE per day and 30 day average rate of 660 BOE per day.  This Woodford Shale well is in the North Cana area and has an oil content of 93%.

Continental Resources Touts Woodford Shale SCOOP Play In Southern Oklahoma

Continental Resources (NYSE:CLR) unveiled a new development program targeting the Woodford Shale in southern Oklahoma and plans to use this as part of a new plan to triple production and reserves by 2017.

Continental Resources said that the company has 171,000 net acres prospective for the Woodford Shale in the South Central Oklahoma Oil Province (SCOOP), which has been producing oil and gas for 100 years.

The SCOOP play or south Cana play has the following geological characteristics:

Depth - 8,000 to 16,000 feet

Thickness – 150 to 400 feet

Total organic content -  6% to 12%

Porosity - 5% to 8%

Original Oil in Place – 45 to 70 million barrels of oil per section

The Woodford Shale SCOOP play produces mostly oil and condensate.

Newfield Exploration Company Reports on Cana Woodford Activity For Second Quarter Of 2012

Newfield Exploration Company (NFX) has 135,000 net acres under lease in the Woodford Shale in Oklahoma and is focused on the liquids rich Cana portion of this play.  The company recently reported the production results on six wells drilled into this play, including the Wright 1H-9 well, which the company believes is the most productive well drilled to date by any operator in the Cana area.

Newfield Exploration said that the Wright 1H-9 well produced at an initial rate of 1,900 barrels of oil equivalent (BOE) per day and averaged approximately 1,450 BOE per day during the first seven days of production.  Other Woodford Shale wells reported by Newfield Exploration include:

Branch 1H-16 –initial gross production rate of more than 1,850 BOE per day and 1,550 BOE per day during the first seven days of production.

Whitt 1H-25 - initial gross production rate of more than 1,050 BOE per day and 900 BOE per day during the first seven days of production.

Faith 1H-12  - initial gross production rate of more than 1,000 BOE per day and 900 BOE per day during the first 30 days of production.

Greenwood 1H-4 - initial gross production rate of more than 1,000 BOE per day and 930 BOE per day during the first seven days of production.

Williams 1H-19 - initial gross production rate of more than 650 BOE per day and 430 BOE per day during the first 30 days of production.