PDF - Lantana Energy Advisors

East Texas Woodbine Formation
How horizontal well technology
gy has impacted
p
development in the play.
August 17,
17 2012
Introduction
Genesis of the play in southwestern
Madison County,
y, TX
Offset to the Kurten Unit in Brazos
County
Martineau drilled the first
horizontal Woodbine well in 2004
Petromax then fine tuned the
completions with spectacular results
Geologic Setting
Geologic Setting
Geologic Setting
Vertical Well Type Curve
Wilson 191 1H – Cross Section
Wilson 191 1H – Cross Section
Wilson 191 1H – Cross Section
Dainty #1H – Production History
Wilf d Dainty
Wilfred
D i t #1H Production
P d ti History
Hi t
10000
MCFD
BBL Oil
BBL Water
FTP
Da
aily Production (bbl/day and Mcf/day)
1000
100
10
1
Dainty #1 Projection
Well Progression
WELL NAME
Lenz WB 1H
Theiss WB 2H
Wilf d D
Wilfred
Dainty
i t #1H
Machac #1H
Schiflet #1H
Miller #1H
HORIZONTAL
DRAINHOLE
[In Feet]
3540
1955
4 701 0
4,701.0
4,937.9
5,544.4
6,123.1
MONTH AND YEAR
PLACED IN
PRODUCTION
December 2004
February 2007
M h 2009
March
April 2009
August 2009
May 2009
NUMBER OF
FRACS
1
5
10
11
11
11
AVERAGE
DAILY PRODUCTION
(BBLs Oil)
140
170
253
207
302
346
Well Progression
WELL NAME
Lenz WB 1H
Theiss WB 2H
Wilf d D
Wilfred
Dainty
i t #1H
Machac #1H
Schiflet #1H
Miller #1H
Wilson #1H
Wilson Unit “A”
A #2H
Oltmann #1H
HORIZONTAL
DRAINHOLE
[In Feet]
3540
1955
4 701 0
4,701.0
4,937.9
5,544.4
6,123.1
6200.2
6 029 7
6,029.7
9,000
MONTH AND YEAR
PLACED IN
PRODUCTION
December 2004
February 2007
M h 2009
March
April 2009
August 2009
May 2009
January 2010
March 2010
September 2010
NUMBER OF
FRACS
1
5
10
11
11
11
15
20
39
AVERAGE
DAILY PRODUCTION
(BBLs Oil)
140
170
253
207
302
346
588
845
1400
Wilson A2H Production History
10000
Wil
Wilson
A #2H P
Production
d ti History
Hi t
MCFD
BBL Oil
BBL Water
FTP
Daily Production (bbl/day
D
y and Mcf/day)
1000
100
10
1
Wilson A2H Projections
Madison County – Well Performance
10,000
Daily Oil Production (bblss/day)
D
1,000
100
10
1
Dainty 1H, 3/1/2009
Wilson 1H, 1/15/2010
Reynolds 1H, 7/3/2010
Machac 1H, 4/10/2009
Wilson 2H, 3/4/2010
Hibbetts 1H, 7/16/2010
Miller 1H, 5/31/2009
Wilson 191 1H, 5/6/2010
Oltmann 1H, 9/9/10
Shiflet 1H, 8/10/2009
Watson 1H, 6/6/2010
McGill 1H, 10/14/10
Recent Activity – Madison County
North Central
PMO/Halcon
Eastern
West
Woodbine Acquisition
Devon
Fidelity
Burk Royalty
Type Log - North Central Madison County
AUSTIN
CHALK
EAGLEFORD
ERA
SYSTEM
EAST TEXAS
BASIN
CR
RETACEOUS
MESOZOIC
M
AUSTIN
CHALK
EAGLEFORD/
Subclarksville
Sand
Upper
WOODBINE
WOODBINE
BUDA
Lower
WOODBINE
BUDA
Type Log– Southeastern Madison County
Recent Activity – Madison County
Within the last year:
• 72 permits filed: 51 horizontal (69%)
• 24 new oil completions: 21 horizontal (88%)
• 3 new gas completions: no horizontal
West:
• 17 Oil Completions – Woodbine Horizontals
• 7 Woodbine Acquisition Corp
• 3 CML Exploration
•34 Permits – Horizontals
•14
14 W
Woodbine
dbi A
Acquisition
i iti
C
Corp
• 8 Crimson Exploration
• 5 CML Exploration
Central:
• 1 Oil Completion – Dexter Vertical (Fidelity)
• 2 Gas Completions
l
– Glen
l
Rose Upper Verticall ((Burk)
k)
• 12 Permits – 10 vertical/2 Horizontal
• 5 Fidelity
• 4 Burk
East:
• 2 Gas Completions – Glen Rose Upper Vertical (Navidad)
• 13 Permits – 6 Horizontal
• 11 Navidad
• 2 Burk
Recent Activity – Madison County
P e rmits - b y Op e rato r
WOODBINE ACQUISITION CORPORATION
14
NAVIDAD RESOURCES, LLC
12
CRIMSON EXPLORATION OPER., INC.
9
SAMSON LONE STAR,, LLC
8
BURK ROYALTY CO., LTD.
6
CML EXPLORATION, LLC
5
FIDELITY EXPLOR. & PROD. CO.
5
BLUESTONE NATURAL RESOURCES, LLC
2
DEVON ENERGY PRODUCTION CO, L.P.
2
FAIRWAYS EXPLORATION & PROD, LLC
2
ALLTEX EXPLORATION, INC.
1
CHESAPEAKE OPERATING, INC.
1
ENDEAVOR NATURAL GAS, LP
1
NEW GULF RESOURCES, LLC
1
NEWFIELD EXPLORATION COMPANY
1
PARTEN OPERATING INC.
1
PMO
1
WHEELER OPERATING CORPORATION
1
WOODBINE PRODUCTION CORPORATION
1
Oil C o mp le tio ns - b y Op e rato r
WOODBINE ACQUISITION CORPORATION
7
CHESAPEAKE OPERATING, INC.
5
CML EXPLORATION, LLC
3
DEVON ENERGY PRODUCTION CO,, L.P.
2
FAIRWAYS EXPLORATION & PROD, LLC
2
ENDEAVOR NATURAL GAS, LP
1
FIDELITY EXPLOR. & PROD. CO.
1
NEWFIELD EXPLORATION COMPANY
1
PMO
1
WHEELER OPERATING CORPORATION
1
Gas C o mp le tio ns - b y Op e rato r
BURK ROYALTY CO., LTD.
2
NAVIDAD RESOURCES, LLC
1
Oil C o mp le tio ns - b y Re se rvo ir
BUDA
1
DEXTER
1
EDWARDS -A-
1
WOODBINE
21
Gas C o mp le tio ns - b y Re se rvo ir
3
GLEN ROSE, UPPER
,
Recent Activity – Grimes County
Within
h the
h last
l
year:
• 28 permits filed
• 23 horizontal (82%)
• 6 new oil completions
• All horizontal
CML Exploration
Pride Energy
Evolution
ZaZa Energy
• 6 new gas completions
• 4 horizontal (67%)
• CML/Pride:
/
Woodbine horizontal oil wells
Southern Bay
• Evolution/ZaZa/Southern Bay: Horizontal Austin
Chalk gas wells
Enervest
Atinum
Jilpetco
• Enervest: Horizontal Austin Chalk oil and gas wells
• Atinum: Horizontal gas well permits
• Jilpetco/Prime: Vertical gas wells
Prime
Recent Activity – Grimes County
AP I#
Op e rato r
Le ase Name
We ll#
42-185-30756
42-185-30759
42-185-30751
42-185-30744
42-185-30516
42 185 30734
42-185-30734
42-185-30536
42-185-30746
42-185-30483
CML EXPLORATION, LLC
CML EXPLORATION, LLC
CML EXPLORATION, LLC
CML EXPLORATION, LLC
ENERVEST OPERATING, L.L.C.
CML EXPLORATION
EXPLORATION, LLC
ENERVEST OPERATING, L.L.C.
CML EXPLORATION, LLC
POOL COMPANY TEXAS LTD.
R.B. CLARY
WILLIAM
BEAL
NEVILL
CANNON UNIT
WHITE SPRINGER
WHITE-SPRINGER
MCCRARY UNIT
RA
CARLOS DOME "A" UNIT
1
1
1
1
1 RE
1
1
1
1H
CML
Exploration
Enervest
Pool
C o mp le tio n
Date
3/28/2011
4/20/2011
10/1/2010
3/21/2010
3/5/2008
12/30/2008
4/8/2011
6/4/2010
4/6/2010
T o tal
Re se rvo ir
Max Mo nth
Max Mo nth
De p th
Name
Avg . (BO/D) Avg . (MC F/D)
14,775 WOODBINE
589
354
14,460 WOODBINE
478
733
14,616 WOODBINE
468
437
14,085 WOODBINE
448
327
13,829 AUSTIN CHALK
321
1,294
8 698
8,698
WOODBINE
295
215
14,650 AUSTIN CHALK
117
457
13,436 WOODBINE
109
102
AUSTIN CHALK
103
151
Recent Activity – Leon County
North West
XTO
BRG LoneStar
Valence
North Central
XTO
East
Basa
Southern
South West
Encana
Gastar
Encana
PMO/HK
Within the last year:
• 96 permits filed
• 46 horizontal (48%)
• 58 new gas completions
• 20 horizontal (34%)
• 32 new oil completions
• 14 horizontal (44%)
• Divided into 5 geographic
regions for the purpose of
this study
• NW
NW– Most of the recent
top gas completions
• NC – Most of the recent
top oil completions
Recent Activity – Leon County
Permits - by Operator
XTO ENERGY INC.
PMO
BRG LONE STAR LTD
LTD.
ENCANA OIL & GAS(USA) INC.
VALENCE OPERATING COMPANY
GASTAR EXPLORATION TEXAS, LP
BASA RESOURCES, INC.
TREADSTONE ENERGY PARTNERS, LLC
WOODBINE PRODUCTION CORPORATION
ALLIED OPERATING TEXAS, LLC
ALTA MESA SERVICES, LP
APACHE CORPORATION
BROOKS PETROLEUM COMPANY
BUFFCO PRODUCTION INC.
CASKIDS OPERATING COMPANY
DALLAS PRODUCTION, INC.
EOG RESOURCES, INC.
FURIE OPERATING, LLC
GSI OIL & GAS
GAS, INC.
INC
LONGBRANCH ENERGY, LP
PETROLEUM ASSET MANAGEMENT CORP
RANGE PRODUCTION COMPANY
SHOCO PRODUCTION, L.P.
TERRACE ENERGY, LLC
W&T OFFSHORE, INC.
WILLIAMS, CLAYTON ENERGY, INC.
Oil Completions - by Operator
27
12
10
9
8
5
4
2
2
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
XTO ENERGY INC.
PMO
BASA RESOURCES, INC.
GASTAR EXPLORATION TEXAS
TEXAS, LP
ALLIED OPERATING TEXAS, LLC
CHESAPEAKE OPERATING, INC.
ENCANA OIL & GAS(USA) INC.
SHOCO PRODUCTION, L.P.
11
9
4
4
1
1
1
1
G
Gas
Completions
C
l i
- by
b O
Operator
XTO ENERGY INC.
VALENCE OPERATING COMPANY
GASTAR EXPLORATION TEXAS, LP
BRG LONE STAR LTD.
ENCANA OIL & GAS(USA) INC.
INC
APACHE CORPORATION
WILDCO RESOURCES, INC.
24
15
8
5
4
1
1
Oil Completions - by Reservoir
WOODBINE
DEXTER
AUSTIN CHALK
13
11
2
Gas Completions - by Reservoir
COTTON VALLEY CONS
TRAVIS PEAK
PETTIT
BOSSIER
RODESSA
16
16
11
10
2
Key Take-Aways
Not all Woodbine acreage is created equal
The Woodbine is not a “Resource Play”
Developing
p g the Woodbine is not a cheap
pp
proposition
p
Multiple targets:
Woodbine
Georgetown
Buda
Austin Chalk
Sub-Clarksville
Glen Rose
Eagle Ford