Thursday, February 18, 2010

Questar: Completions and Update

Questar held its quarterly operations call earlier this week and announced the following completions that have yet to be made public (all are Questar operated, and the initial production figures are 24 hour peak IP rates):
  • Jimmy Woodward 34 H #2: 23.7 MMcf/day initial production; Woodardville Field, Bienville Parish, Sec. 34/Township 15/Range 9; Haynesville reservoir A, serial #239653
  • Weyerhaeuser 10 H #1: 13.3 MMcf/day IP*; Alabama Bend Field, Bienville Parish, S10/T15/R10; res. A, serial #239920
  • Cupples H #2: 15.7 MMcf/day IP*; Elm Grove Field, Caddo Parish, S12/T15/R12; non-unitized stray, serial #240063
  • Darrel W. Sharp 12 H #1: 16.1 MMcf/day IP*; Alabama Bend Field, Bienville Parish, S12/T15/R10; res. A, serial #239520 (Questar reported this as "Sharp 2-1" but I think they got it wrong in the press release and that they are referring to the Darrel Sharp well - at least that's my guess)
  • Sample 2 H #1: 14.3 MMcf/day IP*; Thorn Lake Field, Red River Parish, S2/T14/R11; non-unitized stray, serial #239722
  • Sample 2 H #2: 14.4 MMcf/day IP*; Thorn Lake Field, Red River Parish, S2/T14/R11; non-unitized stringer, serial #240031
Note that the wells marked with (*) were completed with a new technique to minimize pressure drawdown at the reservoir to improve the productivity if the reservoir.  The IP rates are therefore not as sexy as the earlier rates.

With a recent acquisition, Questar has 46,000 net acres and is running seven rigs.  The company is concentrated in area where Caddo, Bossier, Bienville, Red River and DeSoto Parishes meet and has been one of those producers that has kept its head down and produced some consistent, attractive wells.


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