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To: cicero2k
Wall Street must be skeptical as their stock (APC) fell on the news. The Niobrara has been a tough nut to crack because of its high clay content (i.e. not as much porosity and difficulty in fracing due to its ductile nature) than other shale plays.
15 posted on 11/14/2011 3:11:01 PM PST by crusty old prospector
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To: crusty old prospector

The Niobrara has been a tough nut to crack because of its high clay content (i.e. not as much porosity and difficulty in fracing due to its ductile nature) than other shale plays.

They seem to be getting some decent flow rates out of the 11 wells

“The results to date demonstrate the Wattenberg HZ program is among the most cost-efficient development projects in our U.S. onshore portfolio, and with initial wells averaging payouts of 10 months, we expect it to quickly become a self-funding, significant cash-flow generator,” said Meloy. “With our extensive land position and the drilling results to date, we envision drilling another 1,200 to 2,700 horizontal wells in the core Wattenberg field acreage.


19 posted on 11/14/2011 3:51:02 PM PST by Recon Dad ("The most important rule in a gunfight is: Always win and cheat if necessary.")
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