Completion reports this week of wells drilled by Oklahoma City based Chaparral Energy confirm the company’s expressed plans to expand operations in Oklahoma’s STACK oil play.
Those intentions were revealed in Monday’s release of the second quarter results for Chaparral.
The same day, the daily completion report published by OK Energy Today, showed the company had new wells in Canadian County, one in Garfield County and three in Kingfisher County.
The Big Timber well in Canadian county, 11 14N 8W was the largest producer at 570 Boed along with 954 Mcf of natural gas. It is located approximately 3 miles southwest of Okarche and had a spud date of May 26. Drilling finished June 16 and completion was made July 23.
The Garfield County well, White Oak, 1 21N 6W might not have produced what the company anticipated. Production was 53 boed along with 1,995 Mcf of gas. It is located 2 miles south of Enid.
Two of Chaparral’s three Kingfisher county wells were multi-units drilled at 4 16N 6W. Located about 5 miles northeast of Kingfisher, the Slider produced 322 Boed while the Hollywood had production of about 40 barrels a day. The third well was located 5 miles due east of Kingfisher along state highway 33.
As the company indicated in its second quarter announcement, it “focused the vast majority of its operated capital in the quarter in central Oklahoma’s highly active STACK Play.” It brought in seven STACK wells and also acquired another 18,000 acres in the STACK in the first half of 2017. That included 15,600 acres in Garfield County as well as 2,000 acres in Kingfisher and Canadian Counties. Chaparral has more than 110,000 acres in the STACK.
“As a result of our strong STACK performance and the attractive economics within the play, Chaparral will be expanding our STACK development program and adding at least six additional gross operated wells this year,” said Earl Reynolds, Chief Executive Officer. “We now expect our full-year STACK production to grow by more than 25 percent from 2016 to 2017.”