Exploration & Production | Capital Markets | Private Equity Activity
NFR Energy Continues Liquids Cotton Valley Drilling
Print
|
During 2011, the Company closed two Cotton Valley acquisitions which both had a significant production and proved developed reserve component, contributing to the 78% year‐over‐year increase in proved developed reserves, as well as providing the Company with immediate cash flow.
For 2012 and similar to the second half of 2011 activities, the Company plans to continue to focus its capital program on the Cotton Valley assets due to the oil and NGLs associated with the play. This shift is evidenced by the seven Cotton Valley horizontal wells completed during the fourth quarter of 2011. The seven Cotton Valley completions had an average 30 day initial production rate of 4.8 Mmcfe/d, an estimated ultimate recovery (“EUR”) of 4.5 Bcfe and drilling and completion costs of $7.8 million.
Addition…- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations