Niobrara Shale

Anadarko Petroleum Reports Eleven Niobrara/Codell Wells

Anadarko Petroleum (APC) reported the results of eleven wells drilled and completed into the Niobrara or Codell formations in the Wattenberg field in Colorado. The names and initial production rates are:

Name	Oil	Gas	BOE
REI 31-5HZ	303	5.5	1,225
Dolph 27-1HZ	1,103	2.4	1,505
Dechant 3-19HZ	715	0.7	840
Dechant 4-19HZ	810	1.0	980
Guttersen 4-5HZ	561	0.5	655
Pinnacle 2-2HZ	421	1.3	640
PSC 13N-13HZ	459	0.6	555
Guttersen 3-5HZ	551	0.6	655
PSC 12N-13HZ	451	0.7	575
PSC 12C-13HZ	523	1.6	795
PSC 13C-13HZ	467	1.2	670

Oil - barrels per day

Natural Gas - Millions of cubic feet per day

BOE - barrels of oil equivalent per day

Rex Energy Reports Two Clunkers in Niobrara Shale

Rex Energy (REXX) reported that two recent wells completed into the Niobrara Shale are non commercial.  These wells are the Steege #1-33H, located in Laramie County, Wyoming, and the Shapley #14-25H well, located in Weld County, Colorado.

Rex Energy said that the company will shift its resources towards other oil and liquid plays in its portfolio and will pursue “strategic alternatives” including a joint venture or outright sale of the properties.  The company has 40,000 net acres prospective for this formation in Wyoming and Colorado.

QEP Resources Builds Up Niobrara Shale Position

QEP Resources (QEP) was recently spun out from Questar Corporation (STR) and is a separate company that now controls the majority of the former exploration and production segment of Questar Corporation.

Questar Corporation now owns only the Wexpro subsidiary. QEP Resources has built up a position in Rocky Mountains that is prospective for the Niobrara Shale, and several other liquids rich areas.

The company has focused in three areas:

Powder River Basin – 49,800 net acres.

East Green River Basin – 17,400 net acres.

Denver Julesburg Basin - 64,500 net acres.

QEP Resources plans to drill a Niobrara Shale horizontal well in late 2010 on its acreage in Southern Wyoming. The well is near the Silo Field, where other operators have tested the Niobrara Shale.