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QEP Woodford 3Q Production


QEP Resources released their production data in their 3Q2010 operational update a little over a month ago. Their EUR is displayed at 4-12 Bcfe/well in the Woodford “Cana” shale play in Northwestern Oklahoma. A total of 104 Bcfe of proved reserves are in the play and production has grown each quarter since the end of 2008.

Currently two rigs are drilling wells and two wells are awaiting completion. QEP has 10 producing wells and 70+ non-operated working interest wells. The company also has interests in 13 wells currently being drilled and 13 wells waiting completion by other operators.

From a map of QEP’s acreage in the Woodford play, you can see that the company has expanded their areal coverage of the play to the northwest. The leasehold is ~45,000 net acres in Tier I and ~21,000 net acres in Tier II.

QEP’s net production in the Woodford shale can be seen in the graph below since they entered the play in 2008. A jump in production is clearly seen coming into the close of this year. QEP expects that this rise in production will only continue to grow as production goes on.

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Eric Roach

Eric Roach is the editor of Drillinginfo's blog, which was selected as the Top Oil & Gas Industry Blog based on visibility, engagement and relevance. He also prepares a weekly newsletter of top industry news for blog subscribers, and would be grateful if you would subscribe and tell your friends. (There's a box on the upper right of the page where you can subscribe).