By OGJ editors
HOUSTON, Mar. 8 – Double Eagle Petroleum Co., Denver, said its 2011 development and exploration program includes drilling as many as 20 coalbed methane wells in the Catalina Unit, participating in 16 new wells in the Mesa Units, and drilling one or more Niobrara science wells, all in Wyoming.
Spending was $21.5 million in 2010, which included $1.043 million to increase Niobrara formation holdings.
The company will also pursue strategic asset and company acquisitions.
Gas and oil production fell 2% to 9.2 bcf equivalent in 2010, due largely to lower production volumes at the Catalina and Mesa units. Catalina’s drop to 5.4 bcf from 5.9 bcf was due largely to natural decline and to 30 workovers that require a well to be offline temporarily.
Production increased at Atlantic Rim as the operator added compression at Doty Mountain and fracture stimulated numerous wells in 2010. Double Eagle added to its working interest in the Catalina, Sun Dog, and Doty Mountain units in the third quarter.
Dreamstime | © Charles Montgomery.
Photo from SABIC Limburg BV.
