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].”