Thursday, February 18, 2010

Quick Chesapeake Update

Now that Chesapeake has so many Haynesville wells flowing and rigs operating, its operational updates have become rather vague.  The company is maintaining 38 rigs in the play and still has around 535,000 net acres.  In its press release, the company noted several wells, only one of which I have not previously reported:
  • Sloan 4 H #1: 23.4 MMcf/day initial production rate (24 hour peak); Holly Field, DeSoto Parish, Sec. 4/Township 13/Range 13; non-unitized, serial #239791 (Chesapeake referred to this well as "Sloan 4-12-13" but this is the closest I could find.  I'm assuming it's a typo in the press release.)
With several companies changing their completion techniques to moderate initial flows to improve reservoir recoveries (i.e. Questar from earlier today), super sexy high IP rates might become a thing of the past.  I'm not sure what the new statistic to wave in front of investors and stock analysts will be, but I'm sure the E&P guys will think of something.

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