The current hydrocarbon prices have greatly affected views of the Woodford Shale just as they have with other gassy shales. Players in the Woodford are trending towards the Anadarko Basin to the west vs. the Arkoma Basin to the East because of the liquids rich nature.
Continental Resources is one of the leaders in this corner of the Woodford with over 250,000 net acres. During their analyst day they provided quite a few interesting maps. First, here is a map of the Oklahoma Woodford Shale play. It includes both the gassy Arkoma, and the more liquids-rich Anadarko along with a breakdown of the windows.
As has been highighted in other posts, until this year the Arkoma Basin was the focus. The map above shows the shift with 32 active rigs in the Anadarko and 25 active rigs in the Arkoma.
Below is a map showing the production profile of a few Continental wells. It is enlightening for a number of reasons. First of all, there is a transition from dry gas to “oil”. However, the “oil” window is only 42% oil. The Ballard 1-17H has a breakdown similar to the breakdown that EOG has reported for their Barnett Combo window and their Leonard Shale, about 1/3 oil, 1/3 gas, 1/3 NGLs.
Continental reported in their 3Q results that they recently completed a key exploratory well in the oil window, the Dara 1-29H in Grady County. They reported an IP of 2.5 MMcfpd of rich natural gas and 88 Bopd for the initial one-day test period. Also reported is they produced 1,377 Boepd in the 3Q2010 in this western Oklahoma part of the Woodford Shale.
Devon exploration is another company active in this area and they put out an 11 Bcfe type earlier this year. The Contintental type curve is 7.1 Bcfe. We at DI-Energy Strategy Partners are keeping up with the Woodford Shale in both this blog and the Woodford Shale Unconventional Update available to DI users.
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