Despite signals that the $3.610 prompt-month low from Aug. 27 would likely hold up as the seasonal low in natural gas futures, the November contract penetrated the price level early Friday morning, opening the door to even lower prices.
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‘Microhole’ Rig Penetrates Dense Niobrara Gas Formation
Calling it a potential “game changer,” a hybrid “microhole” coiled tubing rig used on 25 test wells has penetrated a particularly dense Niobrara natural gas chalk formation along the Kansas-Colorado border, the Department of Energy (DOE) said last week. The DOE said the rig delivering 25-35% in cost savings per well and about 1 Tcf of shallow gas that otherwise would have been bypassed by conventional drilling.
December 18, 2006
‘Microhole’ Rig Penetrates Dense Niobrara Gas Formation
A hybrid “microhole” coiled tubing rig used on 25 test wells has penetrated a particularly dense Niobrara natural gas chalk formation along the Kansas-Colorado border, delivering 25-35% in cost savings per well and about 1 Tcf of shallow gas that otherwise would have been bypassed by conventional drilling, the Department of Energy (DOE) announced Tuesday.
December 13, 2006
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