Southwestern’s first oil well in the Brown Dense field in Arkansas produced 103 barrels a day, which was “a disappointment,” Scott Hanold, an analyst with RBC Capital Markets in Minneapolis, wrote in a note to clients today. The company expects better production from two more wells in the Brown Dense field, Chief Executive Officer Steven Mueller said on an earnings webcast today.
Mueller is trying to increase oil production from the Brown Dense field and the Denver-Julesburg Basin in Colorado to offset low gas prices, which have fallen about 25 percent since the beginning of the year.
Almost all of Southwestern’s production is gas, Mueller said in an interview Jan. 5.
>> SWN must give well results to Arkansas O & G com
What makes you think this? What, exactly, requires them to disclose this on Thursday? My understanding is they don't have to disclose anything further until they either get ready to move oil off the site or the 90 days from the 12/27 filing date of the Form 3/4 passes.
Is there some other provision requiring disclosure?
Now that I think about it, I don't think I've heard of such. The well has to clean up, that is if its making oil and there could be other problems. I can't see the state would require a deadline on such until the operator knew exactly what thay had. (may bewrong)MIC
What they know about the well will be given monday the 27th during their 4th qtr report. I dont know of anything thats suppose to happen today. Been an investor in SWN a long time, seems like alot of optimisim has been priced in the last two weeks.
don't underestimate the DJ basin. If they can consistently hit 600 - 800 bopd like BCEI has been doing, it will have a significant impact assuming that SWN attributes sufficient cap-ex to it.
Does anybody have exact location of acreage or at least county(s) where acreage is?