Noble Energy (NBL) reported good progress on the development of the Niobrara and other formations in the Denver Julesburg basin during the second quarter of 2012.
Noble Energy reported net production of 24,000 barrels per day from its horizontal development program, up 33% sequentially from the previous quarter. Total production from the basin in the quarter was 73,000 barrels of oil equivalent (BOE) per day, of which 57% was crude oil and liquids.
Noble Energy has put 38 Niobrara wells onto production in 2012 and expects the estimated ultimate recovery (EUR) of these wells to be 340,000 BOE, up from 315,000 BOE in 2011. The company is also testing 40 acre spacing and has reported success with extended lateral drilling and expects the original well in this program to have an EUR of 750,000 BOE.