This is the first of a 3 part blog about the “other” operators in the Fayetteville Shale play. If you follow the Fayetteville you already know that Seeco is the top operator in the play and the purpose of this series is to see who the other players are and how they fare against number 1. This series will build on itself until we get a complete picture of the top 4 operators in the play, which make up roughly 94% of the currently producing Fayetteville wells.
The number two operator in the Fayetteville is Chesapeake which has 491 currently producing wells compared to Seeco’s 1,162 wells. To evaluate well performance we look at two averages as it relates to production, the average 1st 6-month cums and average Prac IP (a well’s second month of production). Chesapeake’s Fayetteville wells have an average 6-month cum of 224.17 MMcf, which is roughly 13% less than Seeco’s 258.70 MMcf, and their average Prac IP is 1.64 MMcf/d compared to Seeco’s 1.88 MMcf/d, also around a 13% different. Acreage is also a good indicator of operator activity in a play and, according to recent investor presentations, Chesapeake has approximately 455,000 net acres in the play while Seeco holds roughly 889,500 acres. And now to drilling permits, the number of permits Chesapeake has had granted in the last 365 days is 431 compared to Seeco’s 546.
So with this key information we can not only see Chesapeake’s activity in the play but how they stack up against the number 1 Fayetteville player, Seeco. In the next blog we will look at Petrohawk which holds the number 3 spot on our list. To get more information visit Seeco’s Operator Folder or Chesapeake’s Operator Folder in the DNA Unconventional Updates.
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