Noble Energy Inc. (NYSE: NBL) said Dec. 9 strong operating performances in its onshore shale and deepwater Gulf of Mexico (GoM) holdings are driving an increase in the company's production.
The Houston company has increased its fourth-quarter sales volumes to range between 405 and 415 thousand barrels of oil equivalent per day (Mboe/d). The midpoint of the new estimate representing a 15 MBoe/d increase over the prior midpoint.
Actual volumes sold in October and November exceeded expectations. This was due to improved completion practices in the Eagle Ford and Denver-Julesburg (D-J) Basin and the accelerated ramp-up and early performance of Big Bend and Dantzler in the GoM, according to the release.
Combined, the two deepwater fields have already achieved their targeted peak production rate of 20 MBoe/d, net to Noble Energy.
In addition, fourth quarter volumes in the company's other U.S. Onshore, West Africa and Israel assets is consistent with to slightly better than prior expectations, the release said.
Eagle Ford Update
Performance from Lower Eagle Ford wells designed and completed by Noble Energy continue to materially outperform historical results from these assets.
The most recent three wells, including the Gates 05D 10-20, 14-20, and 18-20, were all completed with reduced stage and cluster spacing, increased proppant concentration, and more conservative pressure management.
The average 30-day IP for each of the wells was 4,885 boe/d (10-20), 6,050 boe/d (14-20), and 6,300 boe/d (18-20). The wells have a lateral length of about 7,000 feet.
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