Magnum Hunter Resources Corp. (NYSE: MHR) announced Oct. 22 that it had completed test results on its 100% owned Stewart Winland Pad located in Tyler County, W.Va.
The wells are the strongest in the Marcellus to date, said Gabriele Sorbara, vice president, E&P/energy research, Topeka Capital Markets, in a report.
"These are MHR’s best wells to date and represent top-quartile wells across the entire Marcellus Shale play," Sorbara said. "Not only are the results better than nearby operators, these wells also have a greater liquids mix—about 46% liquids, on average."
The Houston-based company is on tracked to achieve—if not beat—its year-end exit rate of 195 million cubic feet equivalent per day (MMcfe/d), he said.
Well results:
- Stewart Winland 1301M—The well was drilled and cased to a true vertical depth of 6,155 feet with a 5,762 foot horizontal lateral, and successfully fracked with 27 stages. The well tested at a peak rate of 17 MMcfe/d of gas (about 23% condensate and 25% NGL) on an adjustable choke.
- Stewart Winland 1302M—The well was drilled and cased to a true vertical depth of 6,147 feet with a 5,676 foot horizontal lateral, and successfully fracked with 29 stages. The well tested at a peak rate of 17.1 MMcfe/d of gas (about 19% condensate and 26% NGL) on an adjustable choke.
- Stewart Winland 1303M—The well was drilled and cased to a true vertical depth of 6,149 feet with a 5,762 foot horizontal lateral, and successfully fracked with 29 stages. The well tested at a peak rate of 16.8 MMcfe/d of gas (about 20% condensate and 26% NGL) on an adjustable choke.
The Stewart Winland Pad has four 100% owned recently completed wells—three Marcellus and one Utica.
The company reported on Sept. 24 that its 100% owned Stewart Winland 1300U—the Utica well—tested at a peak rate of 46.5 MMcf/d of gas or about 7,750 barrels of oil equivalent on an adjustable rate choke. The Stewart Winland 1300U well was drilled and cased to a true vertical depth of 10,825 feet with a 5,289 foot horizontal lateral, and successfully fracked with 22 stages.
The wells are all tied into the company's midstream subsidiary, Eureka Hunter Pipeline LLC.
"To have successfully completed four very high production rate wells [three Marcellus and one Utica] that have tested on a combined basis at 97.4 MMcfe/d on one single pad, is a testimony to both the quality of the rock underlying our company's lease acreage as well as the knowledge and experience of our management team and field personnel and what they have learned over the past three years in drilling and completing over 50 wells in the region," said Gary C. Evans, Magnum Hunter's chairman and CEO, in a statement.
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