Arkoma shale gains stature in SWN's 2005 budget

Southwestern Energy Co., Houston, plans to increase the outlay for its emerging low permeability Mississippian Fayetteville shale play in the Arkoma basin as part of a 24% increase in its 2005 capital budget to $352.7 million.The program is heavily weighted towards lower risk development in Overton field, East Texas ($147.6 million), and conventional drilling in the Arkoma basin ($59.3 million).The company earmarked $100 million for the unconventional Fayetteville shale play and will accelerate the program as it finds encouragement in the drilling results. The program includes 160-170 wells in 2005.Of 16 Fayetteville wells drilled in five pilot areas in Franklin, Conway, Van Buren, and Fa...

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