Newfield Brings Woodford Shale Wells On Stream
Newfield Exploration provided an update on well results from recent extended lateral completions in its Woodford Shale Play, located in southeast Oklahoma's Arkoma Basin.
The Patterson 3H-31 recently commenced production at 10.3 MMcfe/d. This well is producing from a 4,240' lateral with nine fracs and was drilled and completed for approximately $8.5 million.
The Parker 3H-36 recently commenced production at 9.4 MMcfe/d. This well is producing from a 4,252' lateral with nine fracs and was drilled and completed for approximately $7 million.
The Tollett 3H-22 recently commenced production at 12 MMcfe/d. This well is producing from a 4,366' lateral with nine fracs and was drilled and completed for approximately $7 million.
To date, Newfield has drilled 10 wells with lateral lengths of 3,400' or greater. With production information dating back as far as one year on one- third of this sample, Newfield is confident that these wells will have a significantly higher estimated ultimate recovery. The Company's recent well results demonstrate that extended lateral completions have the potential to move finding and development costs toward $2 per Mcfe. Additional drilling and recent 3-D seismic data will be used to determine what percentage of the total acreage can be developed with extended lateral completions.
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