Sorry if these have already been posted but I haven't been able to keep up with all the posts of late. Still augers well for the Niobrara but patience needed. Hopefully SOA2 will be a cleaner drill.
GMXR's position was acquired with specific ideas in mind of basin flexure, maturity and leveraging our execution with modern seismic investigation. We now have three data points near the basin axis in our North Mustang Doty Hill area, the Samson Defender and the two recent completions by Devon. Using these results with the seismic overprint will help guide future development. We continue to believe that success in this play will require placing well laterals to intersect open fractures in targeting the sub-members of the Niobrara Chalk. The two Devon wells will be used to calibrate models on locations that will be drilled in areas with more intensive tectonic signatures as well as vetting future completion design issues.
We are also noting emerging efforts of targeting the Codell-Turner interval within the Niobrara system. That interval is more of a conventional target that while it certainly can be impacted by natural fractures, it is a tight clastic reservoir being characterized as less erratic than the chalky members.
Devon Energy (DVN) reported the results of a recent well drilled and completed in the Niobrara play on its acreage. The company said that the Waterbuck 2342 was drilled into the Turner Formation and produced an average of 427 barrels of oil equivalent per day during the first 22 days of production.
Devon Energy has acreage prospective for the Niobrara in both the Denver Julesburg and Powder River Basin. The company plans to exit 2012 with 35 total
SSN Price at posting:
9.7¢ Sentiment: LT Buy Disclosure: Held
