SilverBow Resources has put a horseshoe lateral in South Texas’ Austin Chalk, turning a one-miler around for a total 8,900-foot, U-shaped hole, it reported Wednesday.
The U lateral is the Chalk's first, according to Enverus data, while other operators have made U laterals in the underlying Eagle Ford formation, Jeff Magids, SilverBow vice president of finance and investor relations, told Hart Energy.
The well, in Live Oak County, Texas, came in with a 25% lower price tag than two one-mile wells, the company reported.
An IP rate wasn’t reported.
The well, HP Chapman 201H, is in northwestern Live Oak near its border with Atascosa and McMullen counties at the intersection of the Eagle Ford’s volatile oil and condensate phases.
“The successful … approach will be deployed to develop additional targets in the immediate area,” SilverBow reported.
SilverBow has identified more than 30 locations in “complex, stranded acreage configurations” where the U shape may “unlock potential significant value,” it added.
Among them, seven are planned in the area of HP Chapman 201H.
Recommended Reading
Equitrans Midstream Announces Quarterly Dividends
2024-04-23 - Equitrans' dividends will be paid on May 15 to all applicable ETRN shareholders of record at the close of business on May 7.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.