Chesapeake Energy Corp. is boasting that one of its conventional natural gas wells in Oklahoma is only the sixth in the state’s history to reach 60 Bcf of cumulative production.
The Buffalo Creek 1-17 well in Beckham County is operated by the company, which has an 82.6% working interest and a 65.8% net revenue interest. Chesapeake spudded the well in May 2002 and reached total depth of 21,000 feet in the Cunningham Sand of the Deep Springer formation with first sales commencing in December 2002. The well averaged 41 MMcf/d for the first two years of production and is still producing approximately 8 MMcf/d, Chesapeake said.
Chesapeake CEO Aubrey McClendon said his company now operates four of the six most prolific gas wells ever drilled in Oklahoma.
“As early pioneers drilling deep conventional wells using 3-D seismic in the Anadarko Basin, the success of the Buffalo Creek 1-17 well initiated a process almost 10 years ago that has now led to Chesapeake owning the largest leasehold position in the Anadarko Basin,” McClendon said. “This industry-leading leasehold position has proved to be exceedingly valuable as unconventional plays such as the Granite Wash, Cleveland and Tonkawa plays have emerged in areas in and around our traditional strongholds of conventional Anadarko Basin production.
“…[W]e continue to pursue ultra-deep 3-D based Deep Springer drilling in the Anadarko Basin and we are currently operating three rigs in the play, where we believe at least another 185 wells can be drilled in the years ahead on our approximate 75,000 net acres of Deep Springer leasehold.”
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