The Barnett Shale Combo Play has been an area of high interest to many operators lately because of oil, gas, and NGL production. Seven operators currently have wells drilling and producing in this hotspot, and Pioneer Natural Resources has recently decided to join in on the action.
Pioneer (PXD) is planning to give more attention to their acreage in the Barnett Combo play in 2011. Currently the Company owns about 48,000 net acres in the play and has acquired 70 square miles of 3-D seismic. As of now only one rig is drilling in the play with average lateral lengths of 3,400 feet. Estimated ultimate recovery (EUR) grosses to be 320 MBOE with 42% being gas, 42% NGLs, and 16% condensate. You can see the area of interest in a map that PXD has provided in an investor report.
Below you can see a map created in DrillingInfo that displays five permits that PXD has acquired in the Barnett Combo play since mid-December 2010. It’s apparent that this area of the play will be a big focus for Pioneer in 2011.
Along with the high number of permits being issued, leases are being acquired left and right by operators. Three other companies including Tema Oil and Gas, EC Stryker Inc, and Merek Resources have acquired a total of 10 leases the last month and a half. This is in addition to the five leases that Pioneer has gotten. A map that I created in DrillingInfo can show exactly where each operator is developing the Barnett Combo Play.
Keep on the lookout for more Barnett Combo Play updates from Pioneer as they continue to develop their acreage in the area throughout 2011.
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