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 Southwestern Energy began production at the White Oak Field in Franklin County, Arkansas, in 1943 and has been active in the Arkoma Basin ever since. The company’s activities are focused in the Waveland and Midway field development areas in Yell and Logan counties, Arkansas. The Arkoma Basin provides lower-risk drilling opportunities with stable gas production and reserves.
At December 31, 2010, Southwestern had approximately 226 Bcf of reserves that were attributable to its conventional Arkoma properties, compared to 208 Bcf at year-end 2009. In 2010, the company invested approximately $13 million in its conventional Arkoma drilling program and participated in 9 wells, of which 5 were successful and 3 were in progress at year-end, resulting in an 83% success rate and adding new reserves of 3 Bcf. This area recorded net upward revisions of approximately 34 Bcf, comprised of upward price revisions of approximately 30 Bcf primarily due to a comparative increase in the average 2010 price from the average 2009 price, in addition to an increase of 4 Bcf of positive performance revisions. Net production from the company’s conventional Arkoma properties was 19.2 Bcf in 2010, compared to 22.0 Bcf in 2009.
In 2011, Southwestern expects to invest approximately $5 million and drill 5 gross wells. In 2012, Southwestern plans to invest approximately $10 million.
Last Updated on 12/21/2011 |
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Acreage:
308,123 net acres (12/31/10)*
2010 Reserves:
226 Bcf (4% of total)
2010 Production:
19.2 Bcf (5% of total)
Geologic profile:
Sandstone reservoirs ranging from 3,500 to 8,000 feet in depth
* Arkoma acreage excludes 124,986 net acres in the conventional Arkoma Basin operating area that are also within the company’s Fayetteville Shale focus area. |
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