Questar Corp.’s exploration and production (E&P) unit, whose onshore development extends from the Haynesville Shale to the Pinedale Anticline, is ramping up curtailed and shut-in natural gas wells that it deferred earlier this year, the company said Tuesday.
Total output currently is around 575 MMcfe/d, but with more gas being sold and increased development, Questar E&P estimated that its net production would jump 15% in 2010 to 210-215 Bcfe.
“We’ve got great visibility on production growth for the fourth quarter of 2009 and for 2010 and beyond,” said Questar E&P CEO Chuck Stanley. “With our inventory of high-quality development locations in some of the most economic resource plays in North America, we now have confidence in our ability to grow production 12-15% per year over the next five years without an acquisition.”
Net production in 3Q2009 was 43.8 Bcfe, or an average of 476 MMcfe/d, said the company. Production in the quarter was “reduced by continued price-related voluntary curtailments from the second quarter as the company deferred completion of new wells, curtailed production and shut in production from some existing wells.”
Questar E&P also has increased its leasehold in the Haynesville Shale to 43,000 net acres. Development of the newly acquired leasehold in the Haynesville Shale, which is mostly in Bienville Parish, LA, now is under way, with two wells awaiting completion and three wells currently being drilled.
In the Haynesville play, Questar E&P has completed and turned four operated wells to sales, each with strong initial flowing pressures and production rates of 21.5 MMcf/d, 22.6 MMcf/d, 23.7 MMcf/d and 24.4 MMcf/d. In 2010 the company expects to operate eight drilling rigs in northwestern Louisiana, with seven rigs targeting horizontal Haynesville development.
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