Niobrara Shale

Quicksilver Resources Updates Niobrara Activity in Sandwash Basin

Quicksilver Resources (KWK) has 210,000 net acres in the Sandwash Basin in Colorado that is prospective for the Niobrara Shale. The company has drilled and completed six producing wells to date into the Niobrara.

Quicksilver Resources drilled its first horizontal well into the Niobrara Shale in the fourth quarter of 2011. The well produced at an initial rate of 500 barrels of oil per day, and 230 barrels of oil equivalent per day during the first 45 days of production.

Quicksilver Resources plans to drill seven horizontal wells into the Niobrara in 2012.

Ultra Petroleum Discloses Niobrara Position

Ultra Petroleum (UPL) disclosed a leasehold position of just under 100,000 net acres prospective for the Niobrara in the Denver Julesburg Basin in Colorado.

Ultra Petroleum said that the position was evaluated by the company’s New Ventures group and the company believes that the “inherent reservoir characteristics indicate significant resource potential.”  The company plans to drill a number of exploration wells into the Niobrara in the fourth quarter of 2011.

Ultra Petroleum will hold an earnings call later today and I will listen and report further details on the new acreage.

Whiting Petroleum - Niobrara Shale Drilling Plans

Whiting Petroleum (WLL) has 75,000 net acres under lease at the Redtail prospect and is working on developing the Niobrara Shale on its acreage here. The company has drilled and completed four wells into the Niobrara Shale here

Whiting Petroleum plans to spud at least four additional wells at Redtail in 2011.  The Sidney Draw 6-33M and Sidney Draw 6-13H wells will be spud during the third quarter of 2011 and the Runway 23-41H and the Horsetail 18-0733 wells will be spud during the fourth quarter of 2011.

Whiting Petroleum reported that wells here cost between $4 million and $5 million to drill and complete.