Unit Operations
Granite Wash Play
- Noble acquisition strategic fit with existing
UPC leasehold - Total 46,000 net acres in the Texas Panhandle Core
Area (80% HBP)
- Approximately 800 potential drilling locations
- HIGHLIGHTS
- Production up 41% in 2012 over 2011
Q4 = average net 87 MMcfe per day (46% oil & liquids)
Current AFE CWC: $5.3 MM
Estimated reserve range: 3.5 – 4.0 Bcfe
Calculated ROR = 49% - 70% (Flat $90 oil, $30 NGL, $3.25 gas)
First sales on 29 GW horizontal wells 2012 - 2013 Plans
- 4-6 Unit rigs: First sales on 37 gross wells
Estimate capital expenditures $150 million net
First Noble well in Q2
Marmaton Oil Play
- Total 112,000 net acres in focus area (44% HBP)
- HIGHLIGHTS
- Completed 85 operated horizontal wells since 2010
Production up 61% in 2012 over 2011
Q4 = average net 4,248 Boe per day (93% oil & liquids)
150 potential locations on 640 acre spacing
Estimated reserve range: 120 - 130 MBoe per well
Current AFE CWC: $2.7 million per well
Calculated ROR 80% - 100% (Flat $90 oil, $30 NGL, $3.25 gas)
First sales on 32 horizontal wells
(includes two extended laterals) in 2012
30 day IP 407 Boe per day for 2012 wells
- Completed 85 operated horizontal wells since 2010
- Two Unit rigs (3rd rig for 4 wells)
Estimate first sales on 40 gross wells
(includes 3 extended laterals)
Estimate capital expenditures $90 million net
Wilcox Liquids Play
- WILCOX HIGHLIGHTS
- Completed 120 wells since 2003 with 73% success rate
Q4 = average net 32 MMcfe per day (42% liquids)
86,000 net acres (51K leasehold – 30% HBP, 35K options)
- Completed 120 wells since 2003 with 73% success rate
- “Gilly” Field Discovery – announced July 2012
Total reserve potential = 168 Bcfe net (242 Bcfe gross)
Current proved reserves = 30 Bcfe net (18% total)
8% oil, 35% NGL, 57% natural gas
Eight Wilcox potential pay zones
(3 zones currently producing)
Five “Gilly” Field producing wells
Average 255’ net potential pay/well
Estimated AFE CWC: $5.4 million - 2013 Plans
- Run one Unit rig in Wilcox
12 gross wells (includes 5 Gilly field development wells / 2 Gilly field step out wells / 5 other prospects)
Estimate capital expenditures $60 million net
Bakken Shale
- Net Bakken Acreage
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SOLD McKenzie Co., ND (4,756) Remaining Williams Co., ND 2,654 Montana 6,040 Remaining acreage 8,694
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- McKenzie County, North Dakota position
sold during 2012
First well drilled in Sheridan County,
Montana
Remaining tracts in North Dakota and
Montana are non-operated
Anticipate sale of remaining Bakken
interest within 12 – 18 months
Mississippian Play
- Total 105,000 net acres in focus area
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Highlights
- Approximately 300 potential locations (320 acre spacing)
Average well depth +/- 8,000’ (includes 4,000’ lateral)
Mississippian pay zone +/- 50’ thick
Estimated reserve range = 125 - 180 MBoe (92% oil & liquids)
Calculated ROR 40% - 66% (Flat $90 oil, $30 NGL, $3.25 gas)
Estimated AFE CWC: $3.0 million
- Approximately 300 potential locations (320 acre spacing)
- 2012
- Drilled 4 horizontal Miss wells in Kansas focus area
Three wells producing, one waiting on pipeline
Initial well completed May 2012
Total depth 8,115’ (includes 3,850’ lateral)
Frac’d 11 stages
30 day IP 352 Boe per day (92% oil and liquids) - 2013 Plans
- Drill 3 wells in Q1 – wait on pipeline infrastructure to be
built – estimate June 2013 completion
Resume drilling in July 2013 with one Unit rig and
anticipate adding second rig in September 2013
First sales on 13 gross wells
Estimate capital expenditures $40 million net
- Drill 3 wells in Q1 – wait on pipeline infrastructure to be
- Drilled 4 horizontal Miss wells in Kansas focus area