EOG Resources (EOG) has expanded the company’s Niobrara development program to areas outside of the Hereford Ranch Field during the second quarter of 2011. The company has an 80,000 net acre position here in Weld County, Colorado.
EOG Resources reported that the Fiscus Mesa 9-10H well into the Niobrara was drilled and completed and put onto production at a restricted rate of 335 barrels of oil per day, along with 174,000 cubic feet per day of natural gas.
EOG Resources also reported the Gravel Draw 9-09H well at a restricted rate of 277 barrels of oil per day, along with 146,000 cubic feet per day of natural gas.
EOG Resources estimates that it has proved up approximately 169,000 of the company’s 220,000 net acre position in the Niobrara Shale. The company believes that Niobrara wells will be “characterized by lower initial flow rates, but flatter decline curves than other crude oil resource plays.”
EOG Resources also updated production numbers for the Jake 2-01H and Elmer 8-31H Niobrara wells, which were the company’s first two wells into this formation.
Jake 2-01H – production rate of 645 barrels of oil per day during the first thirty days, and 250 to 300 barrels of oil per day in 2011 to date.
Elmer 8-31H - production rate of 283 barrels of oil per day during the first thirty days, and current production of 225 barrels of oil per day.