The MLP Linn Energy LLC, Houston, (Nasdaq: LINE) has reported an initial production rate of 19.4 million cubic feet of gas equivalent per day from its first operated horizontal Granite Wash well in the Texas Panhandle. To date, the company has drilled five horizontal Granite Wash wells, two operated and three nonoperated.
McMahan 22-2H has tested a production rate of 10.8 million cubic feet and 634 barrels of condensate per day during a 24-hour period. The gas production has a heating value of 1,300 Btu/cf and, when processed, should yield approximately 1,250 barrels of natural gas liquids per day.
Including estimated NGL recoveries and shrinkage associated with gas processing, McMahan 22-2H has an initial production rate of approximately 19.4 million cubic feet equivalent per day.
Linn Energy holds a 57% working interest in McMahan 22-2H, which was drilled with a horizontal lateral of approximately 4,100 feet and completed with a 12-stage fracture stimulation. The well was drilled and completed for roughly $7 million.
In the Granite Wash trend in the Texas Panhandle and southwestern Oklahoma, Linn Energy holds approximately 73,000 net acres. More than 100 drilling locations have been identified in the Texas Panhandle alone.
Currently, the company is preparing its second recently drilled and operated Granite Wash well, Black 50-1H, for completion operations in early July. The company holds a 63% working interest in the well. Additionally, Linn Energy has secured a second drilling rig for its drilling program slated for mid-June, which includes eight additional Granite Wash wells.
Linn Energy president and chief executive Mark Ellis says, "Given the successful completion of our first well and drilling of our second well, we have elected to accelerate our Granite Wash drilling program, which is expected to generate significant organic production growth for the company."
Recommended Reading
E&P Highlights: Sept. 23, 2024
2024-09-23 - Here's a roundup of the latest E&P headlines, including Turkey receiving its first floating LNG platform and a partnership between SLB and Aramco.
E&P Highlights: Oct. 14, 2024
2024-10-14 - Here’s a roundup of the latest E&P headlines, including another delay at one of the largest gas fields in the world and two major contracts in West Africa.
US Drillers Cut Oil and Gas Rigs for Second Time in Three Weeks
2024-08-16 - The oil and gas rig count fell by two to 586 in the week to Aug. 16.
Trillion Reports Revitalized Gas Field Production Offshore Turkey
2024-08-14 - Trillion Energy produced 140 MMcf in the SASB gas field in its first 35 days of production.
E&P Highlights: Aug. 19, 2024
2024-08-19 - Here’s a roundup of the latest E&P headlines including new seismic solutions being deployed and space exploration intersecting with oil and gas.