Exploration & Production | Drilling & Completions | Well Lateral Length | Drilling / Well Results | Top Story | Downspacing | Initial Production Rates

Carrizo's Downspacing Pays Off; Touts Niobrara A Well Test

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   |    Wednesday,June 18,2014

Carrizo Oil & Gas, Inc. has reported an initial Niobrara A bench wells test at an average peak 24-hour rate of 1,127 Boe/d, including one well which tested at 1,633 Boe/d.

Carrizo recently began production from its first multiple-geological-bench downspacing pilot in the Niobrara formation. The pilot consisted of eight wells in the company's Bringelson Ranch area in Weld County, CO. The pilot tested both B-A-B and B-B-B lateral orientations spaced 300 ft. apart, equating to 40-acre spacing. The wells were drilled with an average effective lateral of approximately 4,000 ft. and completed with an average of 14 frac stages. The average peak rate from the eight wells was 1,021 Boe/d (89% oil). This compares very favorably to our current Area 1 type curve, which assumes an average IP rate of approximately 800 Boe/d (80% oil). The five B bench wells had a peak rate of 957 Boe/d (89% oil) while the three A Bench wells had a peak rate of 1,127 Boe/d (88% oil). One of the A Bench wells, the Bringelson Ranch 6-20, had a peak 24-hour flowing rate of 1,633 Boe/d (87% oil), the strongest peak rate to date from the Company's Niobrara program. Carrizo operates the Bringelson Ranch wells with an approximate 29% working interest.

The Company is currently drilling its second 40-acre B-A-B downspacing pilot, located in its Hemberger area in Weld County. Current plans call for the pilot to include three wells in the B bench and two wells in the A bench, with the laterals spaced approximately 300 ft. apart. Carrizo operates the Hemberger wells with an approximate 26% working interest.

S.P. "Chip" Johnson, IV, Carrizo's President and CEO, commented, "We are very encouraged by the early results from our initial multiple-bench test in the Niobrara formation, as each of our A bench wells are comparing favorably with nearby B bench wells, and the Bringelson 6-20 had one of the strongest peak rates we have seen in the trend. Additionally, the wells drilled on 40-acre spacing in the B bench also appear to be performing well. While more production history is needed on these wells, the early results imply that there could be significant upside to our current drilling inventory."