Newfield Exploration Co., Houston, (NYSE: NFX) reports seven wells recently drilled in the Granite Wash play in the Texas Panhandle and Oklahoma had combined initial production of 100.7 million cubic feet of gas equivalent per day.
Britt 7-12H (66% working interest) was drilled to a lateral length of 4,472 feet targeting the Atoka formation. Initial production was 20.1 million cubic feet equivalent per day.
Britt 7-11H (51%) was drilled to a lateral length of 4,477 feet targeting the Atoka formation. Initial production was 15.1 million cubic feet equivalent per day.
Lunsford 3-4H (100%) was drilled to a lateral length of 4,202 feet targeting the Marmaton formation. Initial production was 15 million cubic feet equivalent per day.
Britt 8-6H (66%) was drilled to a lateral length of 4,300 feet targeting the Atoka formation. Initial production was 14.5 million cubic feet equivalent per day.
Carr 1-2H (100%) was drilled to a lateral length of 4,118 feet targeting the Marmaton formation. Initial production was 12.3 million cubic feet equivalent per day.
Thomas Britt 6-13H (100%) was drilled to a lateral length of 3,795 feet targeting the Atoka formation. Initial production was 12 million cubic feet equivalent per day.
Thomas Britt 6-13H (100%) was drilled to a lateral length of 3,795 feet targeting the Atoka formation. Initial production was 12 million cubic feet equivalent per day.
Huff Ranch 47-5H (58%) was drilled to a lateral length of 4,300 feet targeting the Atoka formation. Initial production was 11.7 million cubic feet equivalent per day.
Newfield’s gross production in the first quarter was nearly 180 million gross cubic feet equivalent per day gross (nearly 110 million net).
In the Oklahoma Woodford shale, production in April was approximately 345 million gross cubic feet equivalent per day gross operated (nearly 210 million net). Production growth is attributable to increased completions in early 2010 and the results of super extended laterals, which are wells with a horizontal length greater than 5,000 feet.
The company is currently running eight operated rigs in the Woodford, but with capital expected to be moved to oil projects, the operated rig count is expected to be reduced to four to five rigs in the second half of 2010.
Newfield president, chairman and chief executive Lee Boothby says, "We have a great luxury in the fact that our foundational gas developments are held-by-production. The Woodford and Granite Wash both are expected to grow 20% or more this year because of the momentum we had coming into 2010 and continued great results. Today, however, we are electing to slow the pace of our development drilling in the Woodford and plan to drop several rigs in the second half of this year. This is the right economic choice today—to slow growth in gas plays.”
Newfield has operations in the Anadarko and Arkoma basins of the Midcontinent, the Rockies, onshore Texas and the Gulf of Mexico and international operations in Malaysia and China.
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