Niobrara Shale

Anadarko Petroleum Increases Niobrara Potential In Wattenberg Field

Anadarko Petroleum (NYSE:APC) increased its estimate of the recoverable resources from the company’s horizontal development of the Niobrara Shale in the Wattenberg Field.  The company now believes that its leasehold holds from 1 billion to 1.5 billion barrels of oil equivalent (BOE), an increase of 500 million BOE from the previous lower range.

Anadarko Petroleum said that the increase was due to better productivity from wells drilled and completed into the Niobrara and Codell plays.  The company has also identified down spacing opportunities on its acreage.

Anadarko Petroleum reported gross production of 37,000 BOE per day from 115 wells in the Wattenberg field, with 75% of the production from the Niobrara Shale and 25% from the Codell formation.  The company is currently operating ten rigs in the Wattenberg field.

Whiting Petroleum Updates Operations At Niobrara Redtail Project

Whiting Petroleum (NYSE:WLL) updated its Niobrara operations at the Redtail project for the third quarter of 2012.  The company’s leasehold here totaled 77,608 net acres at the end of the quarter.

Whiting Petroleum acquired an additional 10,830 net acres after the end of the quarter at the Redtail project, which is located in Weld County, Colorado, in the Denver Julesberg Basin. The company believes that this additional acreage is prospective for both the Niobrara A and B benches and is currently completing its first two wells into the Niobrara A zone.

 Whiting Petroleum reported the completion of the Wildhorse 04-0414H well into the Niobrara B zone at the Redtail project.  The Wildhorse 04-0414H well produced 975 barrels of oil and 1.17 million cubic feet per day of natural gas.

Carrizo Oil & Gas Signs Joint Venture Deal In Niobrara

Carrizo Oil & Gas (NASDAQ: CRZO) reported a joint venture agreement on its leasehold position in the Niobrara formation in in Weld and Adams Counties in Colorado.

Carrizo Oil & Gas sold a 30% interest in its Niobrara acreage to OIL India Ltd. and Indian Oil Corporation Ltd. for $82.5 million.  The company will receive $41.25 million in cash at closing and an additional $41.25 million in the form of a drilling carry to cover future development costs in the Niobrara.

Carrizo Oil & Gas said that the 30% includes 18,100 net acres and production of 555 barrels of oil equivalent (BOE) per day from 24 gross Niobrara wells.