Niobrara Shale

Chesapeake Energy Reports Three Niobrara Completions

Chesapeake Energy (CHK) is working to develop the Niobrara on a 350,000 net acre position in the Powder River Basin in Wyoming.  The company has drilled 44 horizontal wells to date in the play, with 18 in the core area of the Niobrara.

Chesapeake Energy is operating eight rigs here and plans to add two more rigs by the end of 2012.  The company disclosed production on three wells recently drilled into the Niobrara in the Powder River Basin.  The wells are all located in Converse County, Wyoming.

Combs Ranch 1-H - 2,460 BOE per day, composed of 1,120 barrels of oil, 575 barrels of natural gas liquids and 4.6 million cubic feet of natural gas per day.

York Ranch 1H – 1,950 BOE per day, composed of 1,020 barrels of oil, 370 barrels of natural gas liquids and 3.4 million cubic feet of natural gas per day.

Northwest Fetter 1H - 1,460 BOE per day, composed of 1,150 barrels of oil, 125 barrels of natural gas liquids and 1.1 million cubic feet of natural gas per day.

Chesapeake Energy said that the company’s acreage in the Powder River Basin has exposure to other formations including the Frontier, Parkman, Sussex, Shannon and Teapot formations.

Devon Energy Reports Recent Niobrara Activity

Devon Energy (DVN) reported the results of a recent well drilled and completed in the Niobrara play on its acreage.  The company said that the Waterbuck 2342 was drilled into the Turner Formation and produced an average of 427 barrels of oil equivalent per day during the first 22 days of production.

Devon Energy has acreage prospective for the Niobrara in both the Denver Julesburg and Powder River Basin. The company plans to exit 2012 with 35 total wells drilled into the Cordell, Mowry, Frontier and other formations.