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The Mississippi Lime is emerging as one of the top new horizontal plays in the United States. Initially a vertical play, horizontal techniques have increased interest in the area. Production varies significantly from one operator to the next. Well design is the biggest variable, but we need more results to give consistent averages.
Mississippi Lime horizontal well costs are $2.4 and $3.5 million. Well design varies from 2500 to 6000 foot laterals utilizing 6 to 20 frac stages. Horizontal EURs run from 300 to 500 MBoe. This technique produces a much higher percentage of natural gas, as an average well will produce from 211,000 to 300,000 barrels of oil.
According to IHS, the Mississippi Lime contains approximately 49% of the recoverable reserves. The reservoir rock in the Mississippi Lime is of Mississippian-aged carbonate limestone. The lower pressure in the Lime translates to lower EURs per well, but said wells will also cost less as lower horsepower rigs can be used to drill the shallower wells.
Touted for its exceptional economics, the play has seen a noticeable surge in interest from E&P companies, making it one of the most popular plays onshore North America.
Mississippi Lime covers 17 million acres and conventional wells have produced for decades from this source rock. Over 1200 vertical wells were drilled with an average EUR of 40 MBo. Vertical well costs are approximately $0.6 million using a two stage frac, with updated EURs of 60 MBoe to 100 MBoe. It is a shallow play with a true vertical depth of 6000 feet.
Source : Sandridge Energy