EOG Resources (EOG) made some comments on the Niobrara Shale during the company’s second quarter earnings conference call held on August 6, 2010. The company has a 400,000 net acre position in the Niobrara Shale and is planning to focusing on a 100,000 net acre section to develop.
“We've completed two additional wells, the Critter Creek #02-03H and Critter Creek #04-09H, and they're producing at managed restricted rates of 570 and 600 barrels of oil per day, respectively. We have 100% working interest here. We have four rigs running in this play. But as we've previously stated, we want to observe production from these and earlier wells until year end, before we make a reserve estimate because the reservoir is heavily fractured.”
“The Critter Creek wells are south and west of our Jake and Elmer wells that we talked about previously and a little bit north of our Red Poll wells. So they're all bunched together in what we call the Hereford prospect, that 100,000 acres of our total of 400,000 acres. So they're on 640 spacing currently.”
“The Jake and Elmer wells appeared to be kind of stabilizing each at about 150 barrels of oil per day. And of course, remember that the first six months, they had pretty significant production, I think, 50,000 barrels or so in the first six months or whatever.”