Chesapeake anticipates drilling at least 65 wells in Hogshooter play over next few years

Chesapeake Energy has announced a significant discovery in the Hogshooter play in the Anadarko Basin of the Texas Panhandle and western Oklahoma with the completion of two horizontal wells and said it expects to drill at least 65 more Chesapeake-operated Hogshooter wells in the next few years. The Thurman Horn 406H well was drilled to a vertical depth of approximately 10,000 ft with a lateral section of approximately 4,900 ft. It was drilled more than five miles from established Hogshooter production, in a section of land where three wells had already been drilled to other formations.

During its first eight days of stabilized production, the well averaged daily production of 5,400 bbl of oil, 1,200 bbl of natural gas liquids (NGL) and 4.6 million cu ft of natural gas (mmcf), or approximately 7,350 bbls of oil equivalent/day (boed). Total cumulative production, which includes five days of flowback testing, is 68,400 boe. Current daily production is approximately 7,000 boe.

The Meek 41 9H well, located approximately five miles from Thurman Horn 406H, was drilled to a vertical depth of approximately 10,500 ft with a lateral section of approximately 4,800 ft. During its first 27 days of stabilized production, the well averaged daily production of 1,300 bbl of oil, 365 bbl of NGL and 1.4 mmcf, or approximately 1,900 boed. Total cumulative production, which includes five days of flowback testing, is 53,500 boe. Current daily production is approximately 1,400 boe.

In addition, Chesapeake has drilled two Hogshooter wells that are waiting on completion, the Zybach 6010H and the Hamilton 39 10H. The company estimates its acreage position contains at least 65 more Chesapeake-operated Hogshooter locations to drill during the next few years. The drilling and completion of these wells will be a part of the company’s already budgeted Anadarko Basin drilling program.

Chesapeake CEO Aubrey McClendon said, “We expect this new Hogshooter discovery to provide a significant boost to Chesapeake’s focus on harvesting its existing assets for growth and value creation rather than on pursuing new leasehold. In addition, this new Hogshooter development area should further enhance our growing liquids production, which we expect will have transformational effects on our company’s operational and financial performance in the years ahead. Further, based on production results to date and our research of industry production records, we believe the Thurman Horn 406H well is one of the best oil wells drilled onshore in the Lower 48 in the past several decades. This discovery exemplifies the scale and quality of our world-class asset base and the skill and creativity of our technical teams.”