American Oil and Gas Reporter - July 2015 - 113
He says PDC Energy has done a number of other things to improve EURs, including using a process similar to the "plug
and perf" method, but with cemented
sleeves. He says the company is using both
methods, noting it has completed the toe
sections of three wells using the cemented sleeves technology with the remainder
of each well using the plug and perf
method.
"The cemented sleeves enable us to
complete the hydraulic fracturing process
at a more rapid pace and pinpoint our fracturing treatment," Reasoner explains.
PDC Energy's first-quarter Utica production was 2,959 boe/d, a 29 percent increase over fourth quarter 2014. Brookman
says the company's Dynamite four-well
pad, which was placed on line late in the
fourth quarter, has outperformed expectations and is the largest contributor to the
increase in Utica production. PDC Energy also brought on the four-well Cole pad
in the second quarter.
Brookman notes PDC Energy laid
down its only drilling rig in the Utica in
January because of depressed commodity prices. "We are encouraged by our new
cost structure, and with modest improvements in commodity prices, we believe the
PDC Energy has 67,000 acres in the condensate and wet gas windows of the Utica play
in Guernsey, Washington and Noble counties, Oh. The company reports average estimated ultimate recoveries of 680,000 barrels of oil equivalent in the condensate window and 1.2 MMboe in the wet gas window. It first quarter production of 2,959 boe a
day was a 29 percent increase from fourth quarter 2014.
Utica is in a position to compete with our
Wattenberg development," he says.
PDC Energy has 67,000 acres in the
play, according to Brookman, with about
50 percent of it held by production. "That
is roughly 220 drilling locations," he calculates. "For a company our size, there is
the capacity to grow. We have 24 producing wells, and we are very early in the development of this emerging play."
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JULY 2015 113
American Oil and Gas Reporter - July 2015
Table of Contents for the Digital Edition of American Oil and Gas Reporter - July 2015
Contents
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American Oil and Gas Reporter - July 2015 - Contents
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American Oil and Gas Reporter - July 2015 - Cover3
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