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Cline Shale Activity Update: July 2013
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West Texas' Cline Shale has been pulling in a lot of interest over recent months. Many E&P companies are diving into the play and lauding its great economics and well results.
As we wait on second quarter results from Devon, Apache, Laredo and others, Shale Experts has pulled some data from our permits database. We use permits as a future indication of rig activity.
Wells Permitted - Jan 1, 2013 and May 31, 2013.As see in the chart below, Apache, who has 520,000 net acres and plans to drill more than 20+ wells this year, has filed more than 62% of the permits, followed by Devon with 11% and Laredo with 6%.
Source : Shale Experts Drilling Permits Database
Permits Filed by MonthAs seen in the chart below, we are not seeing the kind of robust activity expected with just three (3)…
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