Earth & Energy: EOG feeling ‘positive’ about Niobrara play

Date: Tuesday, September 20, 2011, 12:09pm MDT – Denver Business Journal

Sure, EOG Resource Inc.’s “Jake” well in the Niobrara produced a stunning 645 barrels of oil a day when it was brand new in October 2009 — but what’s it doing today?

A reader raised a question recently about “decline curves” in the Niobrara. Or, how fast does a good-producing oil well in the Niobrara field decline to a production level that’s not worth all the fuss?

Mark Papa, chairman and CEO of Houston’s EOG — the company that kicked off the Niobrara play in northern Colorado and southern Wyoming in late 2009 — tackled that question in an early August conference call with analysts.

Papa said Jake is “currently producing 275 barrels of oil per day, a low decline rate, 22 months [after it started producing].”

Continue reading article at the Denver Business Journal

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