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The Cana-Woodford, which is part of the greater Late Devonian/Early Mississippian-age Woodford formation in the Anadarko basin, is an overpressured reservoir with shales ranging from 100 to 300 ft thick. Cana Woodford shale play in Oklahoma (also known as Anadarko Woodford) Depth Ranges from 11,000 - 16,000 ft and Average Well Cost is about $8m.
To the east and south, the play turns into a condensate and then an oil window. This is a liquids dominated play, and it is found at depths of 11,500 to 14,500 feet and is 50 to 300 feet thick. The Cana-Woodford covers 688 square miles. Total recoverable resource is 5.7 Tcf. Shale gas resource is estimated at 6 Tcf.
Well Costs. The expected high well costs are the obvious issue for this part of the Cana Woodford. With 15,000'-16,000' typical vertical depths, wells in the South Cana condensate window are likely to cost substantially more than those in the original core of the play in Canadian county where the Woodford tends to be 2,000-3,000 ft shallower. Devon Energy , Cimarex Energy and QEP Resources, the three largest operators within the original core, have reported typical EURs of 6-9 Bfce and costs in the $7.5-9.0 million range for wells drilled in a pad development mode. Expected returns for those development programs are solid but not extraordinary: 20%-50%. in order to attain similar returns, the EURs in the South Cana will need to be higher.