Anadarko estimates Niobrara net resources could reach 1.5Bboe
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November 15, 2011
By Mikaila Adams
OGFJ Senior Associate Editor
Recent results from Anadarko Petroleum Corp.’s first 11 horizontal Niobrara and Codell wells in the Wattenberg field of northeastern Colorado show strong initial production (IP) rates and could serve as a catalyst for potential joint venture agreements.
ONE horizontal WELL for ARETE in this area, could pave the way (allow $$$ for numerous horizontal wells) for untold riches. !!IMHO. HANGING IN BIG ! SUPER LONG- UNDER 8 mil.sh. & ONLY $2.50, WOW.
Average IP was 827 boe/d with almost 70% oil. IPs range from 555 to 1,505 boe/d. One outlier well (REI 31-5HZ) produced 75% gas; others actually averaged an oil ratio of 77%, with range of 66%-86%, according to Jefferies & Co. Inc. analysts in a November 15 note to investors.
Anadarko's best horizontal well to date, the Dolph 27-1HZ, demonstrated an initial production (IP) rate of more than 1,100 barrels of oil per day (bopd) with more than 2.4 million cubic feet of natural gas per day (MMcf/d), resulting in an estimated EUR of better than 600,000 boe.
Wattenberg horizontal program highlights
• Future drilling locations: 1,200 - 2,700
• Estimated ultimate recoveries (EURs): 300,000 - 600,000 boe per well
• Net resources: 500 million - 1.5 billion boe
• Initial well costs: $4.0 - $5.0 million
• Liquids ratio: ~ 70%
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