Bakken in Full Development; Niobrara Hot for E&P, Whiting Exec Says

'Whiting_Petroleum_Corporation_LogoRichard Nemec – July 17, 2014 – NGIs Shale Daily

Excerpt from Article:

Even with its increased concentration in North Dakota, Whiting has what Williams called “an awful lot” of oil plays in the Niobrara. “We have outstanding oil saturation, great thickness and a lot of porosity in the [middle] B zone.

“Just for the A and B zones there are 60 million boe for every spacing unit, which is about twice what the Bakken is on average,” Williams said. “This is a tremendous opportunity.” He said Whiting has two 16-well pilots and two 32-well pilots in which the company intends to apply detailed geoscience techniques, including microseismic approaches.

Eventually, Whiting plans to drill 3,310 gross wells in the Niobrara, and about 1,654 net wells there. Its rig count is currently at three with plans to go to as many as six rigs by a year from now, Williams said.

 Continue reading article at NGIs Shale Daily

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Hickenlooper joins with Colorado business group to fight oil & gas initiatives

Coloradans_For_Responsible_Reform_Logo - Reporter-Denver Business Journal – July, 17, 2014

Colorado Gov. John Hickenlooper, surrounded by a crowd of senior executives representing the state’s biggest industries, on Thursday joined with the business-backed powerhouse Coloradans for Responsible Reform (CFRR) to launch a fight against two ballot proposals backed by a fellow Democrat, U.S. Rep. Jared Polis of Boulder.

The proposals, Nos. 88 and 89, take aim at the state’s oil and gas industry, but would have a widespread effect on many of the state’s industries, Hickenlooper said at a press conference at the Denver Metro Chamber of Commerce. Continue reading “Hickenlooper joins with Colorado business group to fight oil & gas initiatives” »

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Fracking talks fail, November vote likely

County RegulationsBrandon Rittiman, KUSA - July 16, 2014

DENVER – Talks aimed at brokering a compromise to allow increased local control over oil and gas drilling operations have failed, Gov. John Hickenlooper’s (D-Colorado) office reported Wednesday.

The governor’s office says there will be no special session – as Hickenlooper had hoped – to pass a compromise law on fracking. Continue reading “Fracking talks fail, November vote likely” »

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Halliburton launches push to fill 150 oil & gas jobs in Colorado amid competition for workers

Halliburton Logo - Reporter-Denver Business Journal

Halliburton Co. employs 1,900 people in Colorado and currently has more than 150 open positions — including for entry-level people — in the state.

And Halliburton (NYSE: HAL) has launched an advertising campaign in hopes of luring the “best people” it can in the face of competition from other companies also scrambling to hire people to work in the state’s booming energy industry. Continue reading “Halliburton launches push to fill 150 oil & gas jobs in Colorado amid competition for workers” »

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Community rights ballot measure pulled due to lack of signatures

County RegulationsBy Mark Jaffe - The Denver Post – July 14, 2014

A ballot initiative that would have given communities sweeping powers over oil drilling and other industrial activity was pulled Monday for a lack of supporting signatures, sponsors said.

Initiative 75 would have added the so-called Community Rights Amendment to the state constitution, but to get it on the ballot required 86,105 valid signatures — a rule of thumb is that 125,000 signatures need to be gathered to meet the requirement. Continue reading “Community rights ballot measure pulled due to lack of signatures” »

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Decline Curves of the Niobrara

Figure showing Exponential, Hyperbolic, and Harmonic Oil and Gas Decline Curves, Dean and Mireault, 2008

Figure showing Exponential, Hyperbolic, and Harmonic Oil and Gas Decline Curves, Dean and Mireault, 2008

Decline curves are essential in oil business. They allow a company to assess how much oil could be pumped from a particular well in its lifetime, otherwise known as Estimated Ultimate Recovery or EUR.

These statistics along with the projected price of oil allow a company to project their future earnings for investors in hopes that their stock will be fairly valued by investors. Since an oil or gas well’s production capability declines as it is produced, the production decline over time may be plotted.

Typically decline rates most commonly follow an exponential, hyperbolic, or harmonic decline curve when production rate over time is plotted on a Cartesian scale. (Dean and Mireault, 2008)  Conventional reservoirs tend to follow an exponential decline curve but the performance of unconventional low permeability reservoirs (like the Niobrara) are better modeled using hyperbolic decline trends. (Nysveen, 2013 )

Assembled below are the reported decline curves from some of the more notable companies operating in the Niobrara play.  The decline curves presented were obtained from each company’s investor relations section on their corporate website.  The decline curves show averages of actual production, or projections, of each company’s Niobrara wells and may be sorted by formation unit, proximity to the core Wattenberg field, or the length of a horizontal lateral. Continue reading “Decline Curves of the Niobrara” »

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Drilling initiatives gather more than 80,000 signatures

County RegulationsBy The Denver Post - July, 10, 2014

Backers of ballot initiatives that would amend the state constitution to include an environmental bill of rights and to establish a 2,000-foot setback between oil and gas drilling rigs and homes say they have collected more than 80,000 signatures.

Coloradans for Safe and Clean Energy, the initiative campaign committee, has been collecting signatures on the setback measure, Initiative 88, and the bill of rights, Initiative 89, for three weeks, a spokeswoman said Thursday.

Both measures are backed by U.S. Rep. Jared Polis, D-Boulder, who has said he will drop them if a compromise legislative solution to local-control issues is reached.

Supporters have until Aug. 4 to submit 86,105 valid signatures on each measure to make the November ballot.

Read this article at The Denver Post

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Fracking facts won in Loveland vote

 

Hydraulic Fracturing Illustration - Idealized

Hydraulic Fracturing Illustration – Idealized

Jon Haubert – Denver Business Journal – July 4, 2014

As a part of the primary election held on June 24, residents in Loveland were asked whether or not a two-year moratorium on fracking should be enacted in order to further study the potential impacts.

Those unfamiliar that we’ve been fracking since 1947, with over 1.2 million frack jobs under our belt, may be inclined to think, “Sure, let’s wait until we know more — what’s the harm?” It’s a very reasonable approach.

But unlike the five communities of Boulder, Broomfield, Fort Collins, Lafayette and Longmont which voted for a ban or moratorium in past elections, Loveland changed course and immediately became a national case study and microcosm in the debate on fracking. Continue reading “Fracking facts won in Loveland vote” »

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