You cannot talk about the Fayetteville Shale play without mentioning Seeco Inc., a subsidiary of Southwestern Energy. According to their recent 2009 Financial and Operating Results press release, Southwestern Energy ended the year with daily production of 1 Bcf/d, proved reserves of 3,657 Bcfe and 2009 yearly production of 300.4 Bcfe, up from 2004 production of 54.1 Bcfe when they announced the discovery of the play.
“2009 was a year of milestones for Southwestern Energy,” states Steve Mueller, Southwestern Energy’s President and CEO. ” It was just five years ago when we announced to the world that we had discovered a new shale play in Arkansas called the Fayetteville Shale and were the first to produce gas from the reservoir.”
Seeco is by far the most active operator in the play with 1,097 active wells while Chesapeake comes in a distant second with 474 active wells.
Since their first Fayetteville Shale well in 2004, their well performance has been improving year over year as we can see in this vintage type curve created with the DI HPDI Online tool.
As of year-end 2009, Southwestern Energy held approximately 889,000 net acres in the play which can be seen in this acreage map from their recently released March 2010 Investor Presentation which is posted in the DI Fayetteville Unconventional Update.
Moving into 2010, Southwestern Energy plans to participate in 650-680 wells, 475-500 of which they plan to operate, and anticipate investing approximately $1.2 billion in the Fayetteville play.
For more information about Southwestern Energy and Seeco Inc. visit the DI Fayetteville Unconventional Update by clicking here.
Anne Leonard
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