Weekly Permits: Weld County, CO is Focus for Niobrara Operators
Permit activity in DJ-Niobrara dropped off -24.24% from the prior week to 25 permits for the week of 2015-05-18 – 2015-05-24, compared to prior week’s 33 permits. The heaviest activity was in Weld County, CO where 24 of the 25 permits were obtained compared to 33 for the prior week. The 24 permits were made up of 16 horizontal, 1 directional, and 7 unknown. The horizontal permits declined -45% from the prior week. Adams County, CO had +1 permit this week, secured by Ward Petroleum Corporation.
Operator Activity Increasing for Permits
Noble Energy increased their activity this week, permitting 11 horizontal wells from the 8 last week, fresh from their acquisition of Rosetta Resources a few weeks ago. Whiting Oil & Gas picked up activity, permitting 5 wells, up from zero last week. EOG Resources was also active this week permitting 3 horizontal wells compared to no activity last week. An operator that dropped in activity was Kerr McGee Oil & Gas. They permitted 10 horizontal wells last week in Weld County compared to none this week.
Although Noble Energy has yet to complete a well in 2015, they issued 11 permits this week in Weld County under the lease name 70 Ranch. They have a 60% focus on a different well, Wells Ranch, which has a well cost of around $3.8 million (assuming a 4,500 foot lateral).
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