Monday, February 27, 2012

Southwestern Talks Smackover

In its fourth quarter earnings announcement, Southwestern Energy gave an update on its drilling progress in the Lower Smackover Brown Dense in northern Louisiana and southern Arkansas, where the company has 520,619 net acres under lease.  From the release (emphasis mine):
In February 2012, Southwestern completed its first well in the area, the Roberson 18-19 #1-15H located in Columbia County, Arkansas, at a total depth of approximately 9,369 feet and a horizontal lateral length of approximately 3,600 feet. The lateral was landed in the lower third of this zone and subsequent core analysis indicated this section had some of the lowest permeability in the entire interval. The well has been producing from 8 of 11 stages fractured stimulated for 20 days of an expected 20 to 30 day cleanup period. Oil production began on day 8 and the company is encouraged, with the highest 24-hour rates to date of 103 barrels of oil per day, 200 Mcf per day and 1,009 barrels of water per day (45% of load recovered to date). The company’s second well, the Garrett 7-23-5H #1 located in Claiborne Parish, Louisiana, was drilled to a vertical depth in February 2012 at approximately 10,863 feet with a 6,536-foot horizontal lateral. Learning from the first well, this lateral was steered into the top of the interval, drilled faster and had better oil shows than the first well. The company has also spud its third well in February 2012, the BML #31-22 #1-1H located in Union Parish, Louisiana.

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