We will be doing a series of Barnett Liquids entries over the coming weeks. We have heard from quite a few operators who are producing good liquids and returns from the Barnett Liquids window. Some of the more notable are EOG, Pioneer, and Quicksilver.
First, we’ll look at where the production is coming from. Below is a graphic of leases coming online since 2009 and producing greater than 40 Bbls/D in their peak month. It is colored by maximum monthly liquids. The greater liquids production is coming from what used to be thought of as the outskirts up in Montague and out in Palo Pinto. Many of the leases in Montague and Cook are coming on at hundreds of Bbls/D, one lease produced greater than 1,000+ Bbls/D (Settle Unit – EOG).
Next are two graphs I produced using HPDI production tools (available through a DI subscription). The first shows historical Barnett production since 2004, with monthly liquids volumes currently at around 500,000 Bbls. Gas production has been pretty stagnant during the past couple years.
Here are leases coming on since 2009 in some of the hotspot counties: Wise, Palo Pinto, Cooke, Montague, Jack. At the beginning of 2009, these leases produced ~ 7,000 Bbls/month, production has climbed to ~ 300,000 Bbls/month currently.
Finally, here is a pie chart from HPDI showing the breakdown of production by county. Montague is producing greater than half of all the liquids in the play, with Wise and Cooke at around 2,000 Bbls/D.
DI-Energy Strategy Partners is currently in the process of grading the Barnett Liquids window in a similar fashion to how we graded the gas window a couple years back. Check back to this blog for more information or email me any questions, comments, or quips.
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