Niobrara Exploration Rockets Up Over 100% Year over Year

Baker Hughes DJ-Niobrara Exploration Rig Count for Week of 24 May 2013

Baker Hughes DJ-Niobrara Exploration Rig Count for Week of 24 May 2013 – Click to Enlarge

Close examination and breakdown of Baker Hughes Interactive Rig Count statistics for the week of 24 May 2013 shows that the number of  wells classified as “Exploration”  (otherwise known in the O&G industry as “Wildcats”) has rocketed (see accompanying chart) by over 100% in May as compared to a year ago. Exploration wells are wells that are drilled outside of known and established oilfield boundaries.

These statistics suggest that operators in the Niobrara are now feeling enough comfort with their geologic and geophysical models to explore beyond the comfortable confines of the Wattenberg field where the bulk of Niobrara drilling has occurred to date.

See Baker Hughes Rig Count Page for more statistics

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