Tulsa-based privately owned Tecolote Energy LLC on Thursday claimed record results from four recently completed wells in the Anadarko Basin, including the highest reported 30-day production rate to date.
The Tulsa-based producer, formed in 2015 with private equity from NGP, is focused on exploring and developing stacked reservoirs of the western Anadarko’s Panhandle region.
“Our drilling results in the area we call the Panhandle oil window continue to exceed our expectations,” said CEO Maurice Storm. “As we apply new drilling and completion technology to our long laterals, we have seen the results continue to improve and are demonstrating that our high flow rates are repeatable across a large area.”
Tecolote’s operated Meadows-Clifford 31-30 MD EX 2H was completed in the Marmaton D formation with a 9,933-foot lateral. The 30-day initial production (IP) rate was 3,802 boe/d, about 50% natural gas. Production rates on a 24-hour basis peaked 54 days after first sales at 4,070 boe/d.
“The well eclipsed Tecolate's previous record of 2,439 boe/d from the Mathers State 172-156 CL EX 1H well,” which it unveiled last October.
Using the same pad to target the Marmaton E formation, Tecolote completed the Meadows-Clifford 31-30 ME EX 1H well with a 7,456-foot lateral. The 30-day IP rate was 2,596 boe/d, about 54% comprised of oil and natural gas liquids (NGL) and 46% natural gas.
In addition, a separate two-well pad in the Marmaton D recently was completed.
The Hayes-Reid 18-9 MD EX 1HR, drilled with a 8,369 lateral, had a 30-day IP rate of 2,119 boe/d, 54% weighted to oil and NGLs. The second well, Hayes-Reid 18-9 MD CX 2H, was completed with a 10,144-foot lateral with an IP of 2,016 boe/d, weighted 52% to oil and NGLs and 48% to gas.
Tecolote to date said it has completed five consecutive extended lateral wells in three separate Pennsylvanian reservoirs using more than 1,000 pounds of proppant/foot of lateral length.
“The five wells average 9,700 feet of productive lateral and an average 30-day IP rate of 2,572 boe/d, of which 59% of the production is comprised of oil and natural gas liquids,” management said.
Within the Anadarko Panhandle, where more than 2,000 horizontal wells have been drilled, “only 22 are extended laterals, more than 7,500 completed lateral length, and only four wells are super-extended laterals,” which are more than 10,000 feet. Tecolote “drilled all four of the wells with completed laterals “in excess of 10,000 feet,” management said.