Anadarko and Noble are the two most active operators
Per Magnus Nysveen, Rystad Energy
The Niobrara formation is located in Colorado, Nebraska and Wyoming in the Denver-Julesburg Basin, Greater Green River Basin and Powder River Basin. The following formations are included in the analysis: Niobrara, Codell, and Mancos-Niobrara.
The formations were formed ~82-87 million years ago from the accumulation of organisms living in what was once the Western Interior Seaway, an inland sea that divided the continent of North America during much of the Cretaceous period.
Figure 1 illustrates the top 10 companies in Niobrara in terms of acreage. Anadarko Petroleum Corp. and Noble Energy are the two largest acreage holders in the play. These companies hold most of the acreage in the Wattenberg field (located in Weld County), which is the most mature part of the play. Anadarko and Noble hold 350,000 and 410,000 net acres in Wattenberg, respectively.
Figure 2 shows the 2014 and 2015 estimated net production for the five largest companies split by the hydrocarbon content. Total production from Niobrara is expected to average 377 kboe/d in 2014 and increase to 560 kboe/d in 2015. In addition to being the two largest acreage holders in the play, Anadarko and Noble are the two most active operators, and are expected to continue dominating the play going forward.
Figure 3 shows the 30-day average production rate in the most active counties, split by light oil and rich gas. The values include wells spud from 2012 until the third quarter of 2014. During this time ~90% of the wells drilled were in Weld County, and ~6% was drilled in Converse County.
