Monday, May 11, 2009

EXCO: Capex Focus on Haynesville

In its quarterly earnings release, EXCO Resources announced that while it is trimming its 2009 capital budget from $582 million to $500 million ($266 million for drilling and completion) it is diverting nearly all of the money to the Haynesville Shale. To say they have been pleased with their initial results is a drastic understatement. They've really got some kick-ass wells. EXCO currently has four rigs, but they are upping the count to seven by mid-year and are on target to drill 34 wells in 2009.

A summary of EXCO's Haynesville six operated wells:
  • Oden 30 H #6 (100% WI) DeSoto Parish, Louisiana - Initial production (IP) 22.9 Mmcf per day, 7,800 psi on 26/64ths choke in December 2008. Produced 1.0 Bcf in first 64 days. Currently flowing 8.9 Mmcf per day with 4,200 psi after 149 days with cumulative production of 1.9 Bcf.

  • Lattin 24 #4 (92.8% WI) DeSoto Parish, Louisiana - IP 24.2 Mmcf per day, 7,350 psi on 26/64ths choke in February 2009. Produced 1.0 Bcf in first 67 days. Currently flowing 10.8 Mmcf per day with 5,200 psi after 82 days with cumulative production of 1.2 Bcf.

  • Sammo Partnership 18 #5 (100% WI) DeSoto Parish, Louisiana - IP 21.4 Mmcf per day, 6,870 psi on 30/64ths choke in February 2009. Currently flowing 9.8 Mmcf per day with 4,800 psi after 63 days with cumulative production of 789 Mmcf.

  • Sharp 1 #1 (74.3% WI) Caddo Parish, Louisiana - IP 8.6 Mmcf per day, 4,100 psi on 30/64ths choke in April 2009. Currently flowing 4.2 Mmcf per day with 4,700 psi after 19 days with cumulative production of 104 Mmcf.

  • Moran 27 #6 (45.0% WI) DeSoto Parish, Louisiana - IP 26.1 Mmcf per day, 7,300 psi on 28/64ths choke in April 2009. Currently flowing 19.0 Mmcf per day with 7,150 psi after 11 days with cumulative production of 233 Mmcf.
  • Cook 28 #1 (69.8% WI) DeSoto Parish, Louisiana - IP 24.9 Mmcf per day, 7,480 psi on 30/64ths choke on May 2, 2009.

2 comments:

Anonymous said...

Works out to a 82% decline rate the first year. After high decline for first 30 days looks like 3mmcf2/day for each 120 day period. Taking 1 year production to 4mmcf2/day

Great site. Thanks...

Anonymous said...

Posted comment on wrong post