Friday, February 5, 2010

Pioneer Announces Success in the Wolfberry

Pioneer Natural Resources announced at their February 3 conference call that they’re having a lot more success in the Wolfberry play. They have found out that “the Wolfcamp is more prolific than we thought just inside the Spraberry.” They are getting an additional 30 to 35,000 barrels additional by drilling into the Wolfcamp and are seeing much better results.

Lynden Energy Corp. (LVL) has drilled their first three wells down through the Wolfcamp and have outstanding results from their first well. That well flowed an average of 138 bo/day and 277 mcf/day over the first fourteen days of production. It will be interesting to see if they can duplicate that with their next wells. If so, they might be on to something!

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