Niobrara Shale

Whiting Petroleum To Proceed With Further Drilling At Redtail Niobrara Prospect

Whiting Petroleum (WLL) is developing the Niobrara formation at the Redtail prospect in Weld County, Colorado.  The company has approximately 76,000 net acres and is targeting the Niobrara B zone on the property.

Whiting Petroleum reported that the Wild Horse 16-13H well is currently producing 328 barrels of oil equivalent (BOE) per day. This was the fourth well of a five well program started in 2010.  The Two Mile Creek 22-13H, the final well in this program, has been completed and is producing at an initial rate of 216 BOE per day.

Whiting Petroleum said that based on the results of this five well program, the company has decided to proceed with a second round of drilling.  This program will consist of four wells:

• Two wells with 7,000 foot laterals drilled on 960 acre spacing at a cost of $5.5 million each.
• Two wells with 4,000 foot laterals drilled on 640 acre spacing at a cost of $4 million each.

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

Anadarko Petroleum Updates Horizontal Niobrara Program In Wattenberg Field

Anadarko Petroleum (APC) updated investors on the company’s horizontal development of the Niobrara formation in Colorado.  The company is focused on the Wattenberg field in Colorado.

Anadarko Petroleum has eleven producing wells in the Niobrara or Codell formations and has disclosed the following operational data on its acreage:

Future drilling locations - 1,200 to 2,700
Estimated ultimate recoveries - 300,000 to 600,000 barrels of oil equivalent (BOE) per well
Net resources - 500 million to 1.5 billion BOE
Well cost range - $4.0 to $5.0 million initially
Liquids content – 70%

Anadarko Petroleum said that the eleven wells had initial production rates averaging 800 BOE per day.  The best well was the Dolph 27-1HZ, which produced 1,100 barrels of oil and 2.4 million cubic feet of natural gas per day, and had an estimated EUR of 600,000 BOE.

Anadarko Petroleum said that the company will accelerate drilling in the Wattenberg program in 2012 and operate seven rigs by the end of year.  The company estimates that it will drill 160 horizontal Niobrara wells in 2012, up from 40 in 2011.