Thursday, May 05, 2011
Think Colorado's Niobrara play is all about Weld County and oil?
Think again, according to a new report, "Niobrara Gas Breathes Life into Piceance," from Evergreen's Bentek Energy, an oil and gas information and analysis company, and subsidiary of Platts, a division of The McGraw-Hill Cos. (NYSE: MHP).
Two horizontal wells drilled into the Niobrara shale layer of the Piceance Basin in Western Colorado in 2010 have churned out massive amounts of natural gas in the last year, according to Bentek.
Each of the wells produced about 1.4 billion cubic feet of natural gas and about 400 barrels of oil, Bentek said.
By comparison, typical horizontal wells targeting the Haynesville Shale formation in Louisiana, one of the new natural gas plays that have boosted U.S. natural gas supplies, produce about 1 billion cubic feet of gas during the first year of production, Bentek said.
“The wells drilled by Encana in the Piceance already rival Haynesville wells, providing early indications that further development of the Niobrara may dramatically change the economics for gas production in the Piceance,” Bentek said.
To read the full article, please visit www.bizjournals.com.