some very impressive numbers here

Evening everyone,

holders will certainly be happy with these numbers and hopefully will see these numbers being reported more broadly in the play.

I follow Laredo very closely and I can say for certain, I cant remember seeing such high numbers on such a consistent basis.

What's pleasing apart from the results in this report is that they are not using the 24/hr IP but 30/day IP, which should be the minimum of reporting I feel. 30/day, 60/day results would be great! There is only one result here which is disappointing as the company stated and the completion didn't go to plan and unfortunately they don't know what went wrong. Not good really as like anything in life, if we stuff up we at the very least want to know where we went wrong. Just like investments lol.

Laredo are planning on utilising more Multi-pads for the obvious reason of cost reductions, time reduction etc. etc. Their "Garden City" project is the target for these pads so in the next 6-12 month's GGP holders should start seeing more data coming from their close by neighbours ?

Back to the numbers that have just been announced. Laredo have confirmed that the payzones in the project have four (4) zones/intervals which are stacked through a depth of 1,800ft or 550 metre's. That's over half a kilometre of actual payzone !



"Our horizontal wells in the Wolfcamp and Cline continued to perform. During the quarter, we completed an additional 8 horizontal wells in Garden City, 7 of these were long laterals and one was a short lateral. 6 of these wells were in the Wolfcamp and 2 were in the Cline. One of the Cline wells, the Mercer B-6-1H, was disappointing, but we had some issues on the completion in [indiscernible] and we don't feel it's a good test of the area."

"I won't reiterate all the results, which we've put in our earnings release today. But overall, our well results continued to meet or beat our expectations and we are pleased with the continued progress shown in our horizontal program in each of the 4 identified zones. I will remind you that we report on a 2-stream basis."


"We typically don't give 24-hour IP rates because we believe 30-day average IPs are more meaningful in understanding well performance. However, we know a number of operators do give peak rates and several of them report in 3-stream volumes. So today, I will give you comparable well results for some of our very recent activity, showing 24-hour peak rates and cumulative recoveries in theoretical 3-stream volumes at the wellhead. However, I do want to make it clear, we do not intend to update this information routinely in the future."

"In the Upper Wolfcamp, our Sugg A 143-2HU had a peak 24-hour rate of 1,780 barrels of oil equivalent per day. It was 89% liquids. It is a first-quarter well and has produced 50,700 barrels of oil equivalent in its first 45 days of production." ( That's an avge of 1,126boe over the first 45 days )

"The Lane Trust C/E 42-1HU is another Upper Wolfcamp well and had a 24-hour peak rate of 1,371 barrels of oil equivalent per day. It was also 89% liquids and produced 122,300 barrels of oil equivalent in its first 100 days." ( That's an avge of 1,223boe over the first 3 month's which isn't to shabby )


Admittedly, these are some of our better wells. However, in the 12 months ending March 31, 2013, we had completed 25 wells in the Wolfcamp. This includes the Upper, Middle and Lower. And the average peak 24-hour IP on a theoretical 3-stream basis was approximately 1,050 barrels of oil equivalent per day, with an average of 89% liquids.


And in the Cline we have completed 36 horizontal wells starting in early 2010. We have tested and developed many of our completion techniques in varying lateral lengths and frac densities in this zone. The AFE cost is higher because it is deeper and it's somewhat overpressured, so we are drilling fewer of them today. Within our recent Bearkat 150-5H, we had a peak 24-hour rate of 1,364 barrels of oil equivalent per day. It was 87% liquids and had a cumulative production of 78,800 barrels of oil equivalent in the first 100 days. The results were right in line with our average Cline performance type curve.

As mitchad has posted some impressive boepd numbers from Pioneer to go along with these Laredo ones I think it's a pretty good.



LAREDO 1ST QUART RESULTS