Newfield Exploration (NFX) announced a record production at the company’s Woodford Shale play in the Arkoma Basin of southeastern Oklahoma. The gross operated production from this play reached 323 million cubic feet equivalent per day (MMcfe/d) or a net level of 184 MMcfe/d.
Newfield is quite optimistic about its Woodford Shale performance and is expecting a 20% hike in production this year from the 2009 level. This is because the company has been completing the drilling of about 20 wells, commenced in late 2009.
The company said that the solid volumes from this play were made possible by the outstanding results from the recent super extended lateral (SXL) completions. SXL wells are basically those that have completed depths greater than 5,000 feet. Madison 1H-15W and Martin 1H-15E wells are two prominent names in this category. Newfield has five more SXLs in pipeline for completion operations.
On the basis of the current production results and the available 3-D seismic data, Newfield estimates that about one-fourth of its total Woodford acreage will ultimately be developed by SXL wells.
Though the Woodford volumes touched a record level, all of the company’s acreages at this play are held by production. To maintain its current production level in the long run, Newfield is keen on entering new areas. The company’s first step of holding a stake at the emerging Marcellus Shale play in October last year and its recent acquisition of TXCO Resources’ assets are cases in point.
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