Exploration & Production | Quarterly / Earnings Reports
Warren Discusses Niobrara Testing, Spyglass Slowdown
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Warren Resources Inc. has reported its first quarter 2013 update on its Atlantic Rim Coalbed Methane Project in the Eastern Washakie Basin, Wyoming as well as its Niobrara assets.
Spyglass Hill UnitThere was no new drilling in the Spyglass Hill Unit during the first quarter of 2013. The Spyglass Hill Unit covers approximately 113,000 acres, including the areas previously committed to the Doty Mountain, Sun Dog, Grace Point and Brown Cow Units, as well as all additional leases in the southern portion of the project area. Under the Spyglass Hill Unit Agreement, the working interest owners are required to drill 25 gross (approximately 22 net) coalbed methane (CBM) wells per year.
The average cost of drilling and completing a CBM well is approximately $0.7 million. The Company is evaluating…
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