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Last updated on April 23, 2014 at 1:22 EDT

Drillinginfo Releases Mid-Term Report Card Highlighting Best of Class Operators in the Barnett Shale

June 11, 2009

AUSTIN, Texas, June 11 /PRNewswire/ — Although drilling and new well permits are down 40% since the first of the year within the Fort Worth Basin Barnett Shale play, a portion of the play long considered outlier and non-economic has seen a significant increase in activity due to the production successes of EOG and DTE in their acreage in Palo Pinto, Montague, Jack, and adjacent counties.

“This is an interesting development in the Fort Worth Basin Barnett Shale play,” stated Ramona Hovey, Drilling Info Energy Strategy Partners’ Managing Director. “EOG and DTE have drilled over 30 wells in the last several months that have averaged (when normalized for lateral length) nearly 3 times as much as wells in similar acreage were producing a year ago, or 1500 MCFGE/D compared to 666 MCFGE/D. This acreage is very oily, and the shale fairly thin, so conventional wisdom said this area wasn’t core.”

These findings are part of an update of Drillinginfo’s Fort Worth Basin Research Platform. The Fort Worth Basin Platform is comprised of deep data and analysis of the play as it emerges, including a full ranking of acreage probable productivity, acreage potential graded by operator, and relative operator efficiencies within their graded acreage. The update shows EOG to be holding onto its top spot as “Best Barnett Shale Operator.” An in-depth seminar on the study will be held in late August in the DFW and Houston areas. If interested visit www.info.drillinginfo.com/FWBReportCard for additional details.

“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.

About Drillinginfo’s Research Platforms

Drilling Info’s Energy Strategy Partners generates a series of dynamic Research Platforms based on in-depth statistical analyses of the most up-to-date data on the hottest plays in the industry. Drillinginfo’s Research Platforms are dynamic and interactive with continuous updates of information from Drillinginfo’s vast oil and gas database, as well as, on-line access through Spotfire(TM) Webplayer. The Platforms provide a comprehensive overview of best practices by the best operators in the covered plays. Using Drillinginfo’s Graded Productivity by Acreage (GPA(TM)) methodology, subscribers can evaluate and quantify acreage, operators, productivity, and economics associated with proved and unproved holdings with the plays. To learn more about Drillinginfo’s Research Platforms go to www.NewOilPatch.com.

About Barnett Shale Report Seminar

Drilling Info Energy Services Partners will be offering in depth seminars in DFW and Houston where they will discuss details, methodology & results from the report. Seminar tuition is $495 for a full day course. Attendance is limited. If you are interested in attending complete the Barnett Shale Research Platform Seminar Interest Form.

About Drillinginfo(R)

Drillinginfo is the premier information service for the domestic upstream oil and gas industry, providing an integrated land, production, and well information platform for E&P companies, technical professionals, landmen, royalty owners, and financial services. In addition to the most comprehensive and up-to-date information, Drillinginfo provides a full complement of web-based applications and tools, including LandTrac(TM) Unified Land and Exploration Suite, DNA(TM) knowledge management tools, New OilPatch Research Platforms, and a host of geotechnical data processing, mapping and presentation tools. Drillinginfo is available through annual subscriptions. Drillinginfo’s subscriber base currently produces more than 90% of domestic oil and gas. For more information go to www.drillinginfo.com.

SOURCE Drillinginfo


Source: newswire