At their August 5th, 2014 investor presentation, EOG Resources announced drilling results from their Wyoming based DJ basin properties. The company is targeting both the Codell and Niobrara formations in Wyoming’s DJ basin.
The company has 39 net wells in the Niobrara and Codell. Their recent IPs from the Codell Formation ranges from 1100 bopd to a very impressive 1400 bopd. The results are from 6 wells with 9000 ft. laterals.
EOG’s Niobrara wells also put in a impressive performance with IPs ranging from 670 bopd to 700 bopd from their 3600 ft. Niobrara laterals.
The wells exhibit a high oil to gas ration with company’s Niobrara wells averaging 71% oil, 19% NGLs, and 10% gas, and their Codell wells averaging 78% oil, 15% NGLs and 7% gas. The company’s Codell wells are averaging 78% oil, 15% NGLs, and 7% gas.
The company is will be experimenting with shorter 710 ft down spacings in both the Niobrara and Codell going forward.