Barnett Shale Gas Production By Chesapeake Tops Billion Mark
Chesapeake Energy Passes One Billion Cubic Feet.
Despite a cool-off in natural gas prices production in the Barnett Shale has red spiderman costumes been steadily increasing. Chesapeake, one of the biggest producers in the Barnett shale reports the following: operated daily production has recently exceeded 1.0 billion cubic feet of natural gas (bcf) from approximately 1,500 Chesapeake-operated wells. This is a notable achievement.
Chesapeake, EOG, XTO and others continue infill drilling in known producing areas of the Barentt shale, expanding their territory when good leases can be acquired. Of the over 1500 wells Chesapeake owns in the Barnett shale there are some record breakers.
Day Kimball Hill A1 in Tarrant County, TX achieved a peak rate of 16.4 mmcf per day and is expected to produce an average of more than 13.0 mmcf per day in its first month and exceed the previous monthly industry Barnett production record established by two Chesapeake-operated wells this summer that averaged more than 9.0 mmcf per day From Chesapeake Energy website. Production figures of 16.4 mmcf per day are amazing and represent both good hydraulic fracturing technology and good acquisitions in what is known as the spot of the Barnett shale, where gas content and quality is the highest.
The Barnett shale is far from being drilled out. According to one source there may be more than twenty years more of infill drilling and expansion of the limits of the Barnett shale, which can be found as far west as West Texas. With low natural gas prices, due mostly to an over supply from shale formations like the Barnett and Marcellus shales , companies like Chesapeake will most likely stick to safe bets such as the core producing areas for scouting new well locations.
The Barnett shale has had a dramatic effect on the economy of the Dallas Fort worth area, as well spiderman costumes as surrounding cities such as Weatherford and Cleburne where new homes and businesses have sprung up. New roads, schools, and hospital facilities have been build with Barnett shale tax money. One economist likened the development of the Barnett shale to that of five Boeing aircraft factories being plunked down across the Texas landscape around the Dallas Fort Worth area.
Chesapeake spiderman costumes Energy Haynesville Production Figures
In addition to it success in the Barnett shale Chesapeake reports that it has passed the spiderman costumes 500 million cubic feet per day (Oct, 2009) in the Haynesville shale play. Chesapeake remains a leader in these two shale plays, as well as up north in the Marcellus shale and remains a stock to buy and hold for the long term. Chesapeake stock symbol is CHK.
For more information see: What Is The Barnett Shale?
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