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Laredo Petroleum, Inc. Message Board

  • nsleesman nsleesman Jul 25, 2013 6:21 AM Flag

    LPI loves the Cline

    The formerly low profile Cline shale has captured the attention of Tulsa-based Laredo Petroleum and, more recently, other operators. Laredo’s Permian activity is centered on the basin’s eastern side about 35 miles east of Midland, Texas, which has long been dubbed capital of the Permian Basin. The company’s production/exploration fairway is about 20 miles wide and 80 miles long. In 2011, it drilled 262 wells (234 operated) on its Permian Basin assets with a 100 percent success rate on the 239 wells that were completed during 2011. “The overall Wolfberry interval, which is the principal focus of our vertical drilling activities, is an oil play that also includes a liquids rich natural gas component,” said Laredo founder, chairman and CEO Randy Foutch, an AAPG member. “Prior to our purchase of Broad Oak, the exploration and drilling efforts in the southern half of our acreage block were centered on the shallower part of the Wolfberry,” he said. “But the emphasis in the northern half has always been on the deeper intervals, including the Wolfcamp, Cline shale, Strawn and Atoka formations. “We have identified significant potential throughout our total acreage block for the entire Wolfberry interval from the shallow zones to the deepest,” he noted. Consequently, the company expanded its drilling program to include a horizontal component targeting the Cline and Wolfcamp shales. “Our Cline shale drilling began after we conducted an extensive technical review, including whole core analysis and single zone testing in vertical wells,” Foutch said. “We believe the Cline shale exhibits similar petrophysical attributes and favorable economics compared to other liquids-rich shale plays, such as in the Eagle Ford and Bakken shale formations.

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LPI
10.61-0.35(-3.19%)Dec 24 1:01 PMEST

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