According to a report published by Energy News On Demand, the horizontal well had an initial production rate (IP) of 1,270 barrels of oil equivalent (BOE) per day and 2.4 million cubic feet of gas daily.
"A well's initial production rate in the first 24 hours is almost always the highest production you'll see," Jimmy Goolsby, an independent consulting geologist, told the Business Report.
"The historical Niobrara wells — and there are some that have been producing for 40 years — once they drop off, they have a long, relatively flat production rate. They may hold at 20 percent of IP and then produce for a long, long time at that rate. I'm sure that would be the hope here, 'cause 20 percent of this would be over 200 barrels a day."
"I think it's one of the best IP from the Niobrara in Wyoming, certainly the best in the Powder River Basin," Goolsby said. The IP rate is a bit short of the Niobrara's banner producer: EOG Resources Jake 2-1H well in Weld County, Colo., which posted an IP of 1,550 BOE in October of 2009 and spurred interest in the area.
But is this the well that "proves" the Niobrara in Wyoming and in Converse County? Not necessarily.
"I've been on record saying the Niobrara will have sweet spots, and then there will be areas that are not economic to drill," Goolsby said. "This particular well is in what I consider to be a sweet spot, and there are large areas that could be considered sweet spots. But this well does not tell me that the entire region is capable of producing this type of result."
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