EOG Resources (EOG) held a conference call on November 2, 2010, and discussed the company’s activities in the Niobrara Shale in Colorado. The company is moving slowly here and will be releasing more information early in 2011.
“The last oil play I'll mention is the Niobrara in Northeastern Colorado. We're currently running three rigs here. Two recent wells, the Critter Creek #5-10H and #9-15H had initial production rates of 690 and 748 barrels of oil per day on restricted chokes. And we have 100% working interest in both of these wells.”
“And the Niobrara, we have divested a little bit of the 400,000 acres. But we'll definitely be keeping the majority of that 400,000 acres.”
“What was promised is at year end, we'd give an update on the Niobrara, which would really translate into the next earnings call. The issues, we've articulated the same as our last call is a much more heavily fractured play, so the initial production rates are going to be quite good. The question is, what will those production rates look like six months, 12 months after the initial rates?”