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Operator Adds Fifth Rig To Powder River; Impressive Well Results 500 Mboe
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Chesapeake Energy talked up its Powder River Basin Asset most recently.
About the Property.
Land : 275,000
Locations : 2,600 (risked)
Resource Potential : 2.6 BBoe
Chesapeake Energy has 275,000 net acres under lease in the Powder River Basin. The company said its has identified 2,600 risked driling locations and 2.6 billion barrels of oil equivalent. The company loves the asset because of the STACK pay potential, with the existence of Mowry, Niobrara, Parkman and the Turner.
The company has added its fourth rig in the play where they are focused on the Turner formation.
The company is impressed with the performance of the Sundquist 9 well having roughly 400 days of production, the well has produced some 500,000 boe/d (345,000 bbls of oil) during this time.
Here is what Doug…
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