We have been waiting for meaningful Niobrara production data to begin trickling out of the WY side of the DJ Basin, but we will have to wait a bit longer. I took a look at some high level permitting, production and leasing in this area (Platte, Goshen, Laramie), here are some results.
First some permitting. Judging by the map, there has been significant exploration in this area, although my general feeling is that operators are still staying pretty quiet. The intersection of the three counties is the northern area EOG has been heavily permitting and is towards the North end of DJ basin activity. The Samson permits shown have been covered extensively in this blog. Most of the Samson position was picked up by Chesapeake last summer. Samson has retained a small net position and already inked a deal with Halliburton to drill up to two test horizontals.
Next, production. Yes, there is not much. However, the SM Energy Atlas well is interesting in that it is the first Niobrara well the company touted late last summer. On the performance press release, they stated a 7-Day IP of over 1000 BOPD. The data shows an average of about 160 BOPD for the first reported month. This disparity could be due to a number of factors including midstream, production techniques etc.
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