CommodityPrice% Change
Brent Crude Oil49.89-1.54%
Light Crude Oil45.27-2.03%
Natural Gas2.66-1.12%
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Well Performance

Type Curve

Key Wells & Discoveries

Rates of Return/ IRR

Well Activity   ( Q1-2014 to Q2-2015 )

Rig Activity   ( Q1-2014 to Q2-2015 )

 Niobrara Shale Map

 Niobrara Shale Rig Data : September 3, 2015

Drilling Trends from May 4, 2011 - September 3, 2015

 Niobrara Shale Overview

The Niobrara shale formation is situated in northeastern Colorado and parts of adjacent Wyoming, Nebraska, and Kansas.  Primarily an oil play, it is in the Denver-Julesburg Basin, which has long been a major oil and gas province. Technological advances in horizontal drilling and hydraulic fracturing in the last decade has helped create new opportunities in this U.S. energy play.  Based on the industry’s plans, shale and other “tight rock” fields that now produce about half a million barrels of oil a day will produce up to three million barrels daily in the…

  Niobrara Shale Transactions By Month ($MM)

Cross Section / Stratigraphy
Company Features Wattenberg Field Provides Stacked Pay Horizons Depth Core Targets Targeting 2.5-3M Completed Well Costs* Low Operating Low Leverage Costs Less Than 1X 6,500 Niobrara A (<5/BOE 3 LTM EBITDA year avg.) 6,650 Niobrara B 6,800 Niobrara C 7,000 Codell Sand Lucerne II Stacked Pay Carlisle Plant with 3 Improving Gas Niobrara 7,300 Greenhorn Limestone Takeaway Benches & Capacity Codell 7,600 J Sand *For 4,300 foot standard length horizontal well Formations with potential horizontal development in the future 4
Map : Isopach / Structure
WYOMING NORTH CHEYENNE PROJECT OVERVIEW N. CHEYENNE Sheridan Campbell 35,000 net acres Crook Weston County, Wyoming 80% WI Drill to earn Muddy Sandstone formation 250 Locations Johnson EURs: 250 300 Mboe Weston Net Potential: 48 Mmboe Well Costs: 4.0 - 6.0 million Crook 86% Oil/NGLs 2015 Drilled and completed initial well in Campbell Weston this play. The well tested at a maximum 24 Natrona Niobrara hour rate of 907 Boepd (98% Oil). Converse Anticipate spudding one to two additional MCF wells beginning in late summer 2015 to N. Cheyenne further delineate this discovery with full Prospect scale development expected to begin in early 2016 with a commitment of one to two rigs. Converse Niobrara Disciplined Value Enhancement (NYSE Mkt: MCF) 19
Core Sample(s)
Redtail Development Program Opportunity and Challenge of the Niobrara Reservoir High-resolution pore structure image from Scanning Electron Microscope (nanometer = 1 thousandth of a micron) 5 microns 5 microns 5 m 5 m (oil molecules = 20 200 nanometers) 7% Porosity 13% Porosity 9985 5580.2 Middle Bakken B Facies Niobrara B Chalk Braaflat 1111 Terrace 3632M Sanish Field Redtail Area NYSE: WLL Mountrail County, ND Weld County, CO 19 Energy + Technology = Growth
Reservoir Characteristics
Composite Acreage Correlation to Wells Ranch Niobrara A Bench 3 Thinner and resistivity less developed vs B & C Benches 2 Niobrara B Bench 1 4 Consistent thickness and resistivity across BCEI leasehold 5 Niobrara C Bench 6 7 Good uniformity across BCEI leasehold with thickest net pays in the North 8 Codell Present across BCEI leasehold with thickest net pays in the West & South 9 NBL: Wells Ranch BCEI: North Acreage BCEI: East Acreage BCEI: West Acreage BCEI: South Acreage 1 2 3 4 5 6 7 8 9 A Bench B Bench C Bench Codell 36 35 32 30 21 41 38 35 37 Thickness (feet) of Niobrara B Bench Resistivity 20 Ohms 13