|The Devonian-aged Marcellus Shale runs about 600 miles across Pennsylvania. Southwestern began leasing in northeastern Pennsylvania in 2007 and at December 31, 2015, had 270,335 net acres in Pennsylvania. Southwestern’s undeveloped acreage was obtained at an average cost of approximately $990 per acre.
As of December 31, 2015, Southwestern had spud or acquired 553 operated wells, 424 of which were on production and 542 of which are horizontal wells. In 2015, Southwestern invested approximately $710 million in Northeast Appalachia and spud 89 operated horizontal wells and acquired 86 horizontal and 2 vertical wells. Of the 89 horizontal wells spud during 2015, 79 wells are located in Susquehanna County, 4 wells are located in Bradford County, 4 wells are located in Tioga County, and the remaining 2 wells are located in Wyoming County. In 2015, Southwestern’s operated horizontal wells had an average completed well cost of $5.4 million per well, average horizontal lateral length of 5,403 feet and an average of 11 fracture stimulation stages.
Last Updated on 08/22/2016