First quarter earnings announcements are wrapping up and results are looking good in the Woodford…..Cana Woodford that is. The Arkoma Woodford has seen a drawback in drilling activity like many other shale gas plays. Some key operators in the region like Continental and Newfield plan to completely suspend drilling in the Arkoma throughout 2012. And it’s a Monday, so I’m going to try to keep this on a positive note and focus on the Cana and the liquids.
Continental Resources, a leader in the play with 280,610 net acres in the Anadarko Woodford Basin, reported 12,826 Boepd. This equates to almost 5 times the amount of production from the first quarter a year ago. Continental currently has 10 rigs operating in the play, where they plan to drill longer laterals and are presently completing a second multiple-unit well. The company has suspended all drilling in the Arkoma Woodford, where they have 36,729 net acres.
Devon Energy has 244,000 net acres in the Cana Woodford and 16 rigs. Production here averaged a record 271 MMcfe/d in the first quarter. Liquids production averaged 13,000 barrels/day, which is an 80% year over year increase. The company recently drilled a 10,000 foot lateral and plans to begin a 20 stage completion later this year.
Newfield Exploration has a 125,000 net acre lease position and is operating 5 rigs in the play. There is a possibility to add a couple more rigs later this year. Newfield plans to give a more detailed report on Cana Woodford results mid-year.
Cimarex Energy has 120,000 net acres in the Cana Woodford. The company plans to operate 10 rigs and begin infill development in the core area later this May. In the core region Cimarex is reporting 6.5 to 8.5 Bcfe EURs with $8 million well costs. First quarter 2012 production was 161 MMcfe/d in the play, which is a 56% increase over the first quarter last year.
Here’s a map showing some other operators in the core liquids are of the Woodford.
Feel free to check out more operator activity and news in the DNA section of Drilling Info.
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