Drillinginfo Releases Mid-Term Report Card Highlighting Best of Class Operators in the Barnett Shale
“This is an interesting development in the
These findings are part of an update of Drillinginfo’s
“From a non-normalized point of view, EOG comes in with a 100% rating, which correlates to the relative amount of hydrocarbon produced per well,” added Hovey. In comparison, Chesapeake is second with a 98% rating. However, Chesapeake’s acreage position is predominately graded to have much higher production potential acreage than EOG’s according to Drillinginfo’s GPA(TM) scoring methodology.
“We use the analogy that EOG gets a little more soda from a 12 ounce can as the others get from a 16 ounce can,” said Hovey. “When you normalize for acreage grade, looking at current best practices and removing geologic variability, EOG’s 100% rating increases over its second place rivals by 15% or more. What many people miss in these types of plays is that operations matter, and they matter in a big way. A good operator can produce up to 5 times as much hydrocarbon from given acreage as a bad operator,” according to Hovey.
“XTO and Quicksilver are the best operators in high GPA acreage, with 100% ratings in our top two acreage grades, while EOG and Chesapeake excel in the mid grade acreages. Although they haven’t drilled enough wells to be ranked as yet, Burnett Oil and Endeavor are showing spectacular results right now. They appear to have figured something out.”
To see a ranking of top 3 operators by grade, go to www.info.drillinginfo.com/FWBReportCard.
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