Newfield Exploration Company provided an update on well results from recent extended lateral completions in its Woodford Shale Play, located in southeast Oklahoma's Arkoma Basin.

The Patterson 3H-31 recently commenced production at 10.3 MMcfe/d. This well is producing from a 4,240' lateral with nine fracs and was drilled and completed for approximately $8.5 million.

The Parker 3H-36 recently commenced production at 9.4 MMcfe/d. This well is producing from a 4,252' lateral with nine fracs and was drilled and completed for approximately $7 million.

The Tollett 3H-22 recently commenced production at 12 MMcfe/d. This well is producing from a 4,366' lateral with nine fracs and was drilled and completed for approximately $7 million.

To date, Newfield has drilled 10 wells with lateral lengths of 3,400' or greater. With production information dating back as far as one year on one- third of this sample, Newfield is confident that these wells will have a significantly higher estimated ultimate recovery. The Company's recent well results demonstrate that extended lateral completions have the potential to move finding and development costs toward $2 per Mcfe. Additional drilling and recent 3-D seismic data will be used to determine what percentage of the total acreage can be developed with extended lateral completions.

Tags: Woodford Shale Play