Wednesday, June 16, 2010

Denbury Resources Completions

In reviewing the presentation from last month's analyst day for Denbury Resources, I came across a few new Haynesville Shale completions.  Denbury is better known for oil production and its efforts to create CO2 pipelines to capture CO2 from various sources, transport it to aging oil fields and use it to stimulate oil production.  This year, however, Denbury took over Encore Operating, which had a small position in the Haynesville Shale. 

As a result of the Encore deal, Denbury now has 16,402 net acres in southern Caddo, northern DeSoto and southern Bossier Parishes (see map below).  The company operates one rig, but I think it is going away.  The company slashed its 2010 Haynesville capital budget from $99 million to $65 million, roughly split between drilling five wells ($35 million) and participating in 26 to 28 wells ($30 million).  Its non-operated partners are running about five rigs.

The company announced the following completions, the first two from Denbury/Encore wells and the next three from non-operated wells:
  • R Dunn ETAL 2 #1, Encore/Denbury: 8.9 MMcf/day IP; Greenwood-Waskom Field, Caddo Parish, S2/T16/R16; res. A, serial #240207
  • Renrew Lands LLC 5 #1, Encore/Denbury: 9.7 MMcf/day IP; Greenwood-Waskom Field, Caddo Parish, S5/T15/R16; res. A, serial #240231
  • Evans 13 #2, EXCO Production: 27.024 MMcf/day IP; Kingston Field, DeSoto Parish, S13/T14/R13; res. A, serial #240430
  • Knighton ETAL 11 #5, J-W Operating: 16.183 MMcf/day IP; Elm Grove Field, Bossier Parish, S11/T16/R12; res. A, serial #240669
  • Womack 2 #1, J-W Operating: 12.954 MMcf/day IP; Elm Grove Field, Bossier Parish, S11/T16/R11; res. A, serial #240094
Keep in mind that this is company reported data.  I will update the data once it is officially reported to the LA DNR.  I will post the revised the spreadsheet and map reflecting these new completions later this week once I get the weekly update from the LA DNR.

1 comment:

Anonymous said...

27 million, evans- my neck of woods
14n 12w kix ass!!!!!!!!