EXCO presses Vernon gas field development
By OGJ editors
HOUSTON, May 7 -- Gas production from Vernon field in Jackson Parish, La., has stabilized at a net 130 MMcfd of gas equivalent for the past 8 months since EXCO Resources Inc., Dallas, acquired the field from Anadarko Petroleum Corp. in March 2007 for $1.5 billion.
EXCO said it has 280 drilling locations at Vernon compared with 15 identified at the time of the acquisition. The field produces from the Jurassic Lower Cotton Valley formation.
One recent completion flowed 10.3 MMcfd of gas equivalent, the highest initial production rate from a new well since the acquisition, EXCO said. Six wells drilled and completed in the quarter ended Mar. 31 averaged initial production rates of 6.5 MMcfd of gas equavalent.
EXCO is adding a fourth rig at Vernon and plans to drill 31 wells there in 2008. It has expanded the field's southern and western limits and is reprocessing seismic as it evaluates another 65,000 net prospective acres.
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