Early Results from EOG Resources Niobrara Program Showing IP of 1000 BOEPD

Slide showing NIobrara Activity from November 2014 EOG Resources Investor Presentation

Slide showing NIobrara Activity from November 2014 EOG Resources Investor Presentation

EOG Resources reported on November 5th that early results from the company’s DJ basin Niobrara and Codell drilling program were on target with I.P. rates of 1000 BOEPD.  In their 3rd Qtr earnings transcript found at Seeking Alpha,  – Executive VP, Exploration and Production, Billy Helms described their results.

“In the DJ Basin, we completed our first seven-well development pattern on a multi-well pad, consisting of four Niobrara and three Codell wells. The wells were drilled with long laterals spaced at approximately 700 feet between wells in the same zone. The seven wells came on line at a combined rate in excess of 7,800 barrels of oil per day with 5.4 million cubic feet per day of rich natural gas. We have 75% working interest in these wells.

We plan to test spacing patterns in various completion tasks for the balance of the year. Early production results verify initial type curves and provide confirmation of our EUR estimates. This program is delivering consistent initial production rates of 1,000 barrels of oil per day per well. We are rapidly climbing the operational learning curve in this play and expect to achieve our well cost targets in the near-term.”

Read the full transcript at Seeking Alpha

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