Carrizo Oil & Gas Inc. on Wednesday reported more positive downspacing results from its program in the Niobrara Shale at the company’s Bringelson Ranch area in northeast Colorado’s Weld County, saying an eight well multi-bench pilot had averaged a peak initial production (IP) rate of 1,021 boe/d.
Articles from Niobrara
The new year in North Dakota looks like it will be another record-breaker in terms of oil and natural gas production levels, along with a few surprises that may include adding another shale formation to the prolific Bakken/Three Forks plays.
ConocoPhillips executives said most of the company’s production growth during 3Q2013 came from shale plays in the Lower 48 — especially the Eagle Ford and the Bakken — and predicted “significant growth and very high margin growth” from the Eagle Ford for several more years.
While globally the U.S. shale development for oil and natural gas has been a game-changer, concerns about hydraulic fracturing (fracking) on a local level are threatening to sidetrack the domestic energy boom in places like Wyoming and Colorado, according to industry speakers at a symposium in Denver Thursday hosted by the law firm of BakerHostetler.
Liquids-rich and oil plays have clearly won the hearts and dollars of North American producers. The Eagle Ford and Bakken shales are stars now, but several others are poised to join or possibly eclipse them, according to a recent note by Standard & Poor’s Ratings Services (S&P).
Exploration and production (E&P) companies remain enthusiastic about the U.S. onshore, in particular the Permian Basin, Niobrara formation, Utica Shale and the Tuscaloosa Marine Shale (TMS), based on observations at the recent EnerCom Consulting oil and natural gas conference, said two analyst teams who were there. However, Marcellus Shale pricing appears to be a “real concern for the buyside.”
Strong growth in oil production — especially in the Permian Basin — propelled Devon Energy Corp. to record the highest average daily production rate in its history during the second quarter of 2013, as the company also saw positive test results in the Woodford Shale.