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Atlas Resource Partners, L.P. Message Board

  • jrp1324 jrp1324 Jan 26, 2013 1:02 AM Flag

    Possible reasons for ARP $2.35

    (Jan. 22, 2013) WILLIAMSVILLE, N.Y. – Seneca Resources Corporation (“Seneca”), the

    wholly owned exploration and production subsidiary of National Fuel Gas Company (NYSE:

    NFG) (“National Fuel” or the “Company”), has announced initial results from six recently

    completed Marcellus Shale wells within its DCNR 100 tract in Lycoming County, Pa.

    Seneca has completed six new Marcellus Shale wells on a pad located within its

    DCNR 100 tract in Lycoming County, Pa. These six wells had 24-hour peak production rates

    averaging 17.8 million cubic feet (“MMcf”) of natural gas per day, five of which represent

    the highest peak production rates of any wells operated by Seneca in the Marcellus.

    Treatable lateral lengths on these wells ranged between 4,292 and 5,101 feet and they

    were completed with 14 to 18 frac stages per well. All six wells are expected to be flowing

    into National Fuel Gas Midstream Corporation’s Trout Run Gathering System by the end of

    January.

    David F. Smith, Chairman and Chief Executive Officer of National Fuel, stated, “The

    success we are achieving in Lycoming County validates the prolific nature of the Marcellus in

    this area. With a combined 24-hour peak production rate of 107 MMcf of natural gas per

    day, these wells represent some of the most productive wells ever drilled in the Marcellus by

    any operator. With two drilling rigs running in Lycoming County, and without the production

    infrastructure constraints facing many other operators in the Marcellus, we anticipate this

    acreage will be a key driver of Seneca’s production growth over the next two to three

    years.”

    Well Name

    Treatable

    Lateral

    Length

    Number

    of

    Stages

    24-Hour

    Peak

    Production

    DCNR 100 3H 5,101’ 18 21.4 MMcf

    DCNR 100 6H 4,807’ 17 20.9 MMcf

    DCNR 100 7H 4,840’ 17 18.8 MMcf

    DCNR 100 8H 5,054’ 18 20.2 MMcf

    DCNR 100 9H 4,292’ 14 8.0 MMcf

    DCNR 100 66H 4,845’ 17 17.7MMcf

    Including these six wells, Seneca expects to have a total of 15 wells producing into

    the Trout Run Gathering System by the end of January. Additionally, 16 more wells on the

    DCNR 100 tract will be completed this fiscal year, with approximately 25 more scheduled for

    completion in Fiscal 2014. The Company plans to provide further details on its Appalachian

    operations during its scheduled earnings teleconference on February 8, 2013.

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    • From Q3 call
      We advanced the development of our Marcellus acreage in Lycoming County arguably the most productive dry gas region in the country, where we now have a number of pad sites constructed and where we are in various stages of drilling wells and we'll soon move to completions on a number of those wells.

      • 1 Reply to jrp1324
      • On our Marcellus shale acreage located in Lycoming County in Northeastern Pennsylvania, we have now completed three pad sites that will each accommodate multiple wells. To-date, we have concentrated our drilling activity on the first pad, where we will drill five wells in total. In fact we’ve drilled to total depth the first three wells, we’ll nearly complete drilling on the fourth well and we’ll begin drilling the fifth well shortly. These wells will also be included in our partnership drilling programs. Our acreage in Lycoming County is close to some of the most productive natural gas wells in the U.S. And we are very excited about the prospects for this area and the many potential drilling locations that we hold.

 
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