Swan Energy, along with major oil and natural gas production and exploration firms, will take part in Wattenberg oil and gas field in Colorado. Over the next few years, the company will participate with top players in the Wattenberg field and also in over 100 wellbores.
Brandon Davis, who serves as CEO at Swan Energy, commented that that company is happy to provide this opportunity to its partners, who stand to gain from the revenue that could be obtained from well production. Private individual investors also get the chance to become involved in major oil projects.
Jake well of EOG Resources yielded 50,000 bbl in its initial three months; Crow Valley well of Marathon Oil was tested at 500 barrels per day of oil at 24 h rates; Gemini well of Noble Energy had a starting yield of 1,110 BOEPD with a 100,000 BOE for its initial four months; Dolph well of Anadarko had a starting yield of higher than 1,500 BOEPD; estimated IP BOE Per Day was 800; and Estimated Ultimate Recoveries were 300,000 to 600,000 BOE per well.
In the Wattenberg field, horizontal wells have been used to focus on the Niobrara shale formations since 2009. It is projected that 55 M BOE can be produced per year from the Wattenberg field, which is the seventh largest natural gas producer in the U.S and since 1970 it has consistently yielded natural gas. The Wattenberg oil and gas field is noted as one among the 20 largest oil and gas fields in the U.S.
Noble Energy, Anadarko, Marathon Oil, Encana, Chesapeake Energy, and EOG Resources are the main operators in this core region. The firms anticipate huge disbursements from the Niobrara Shale by employing latest hydraulic fracturing and horizontal drilling methods.
Swan Energy’s acreage status has given a chance to the company to take part in major oil projects.
Source: http://www.swanenergyinc.com