Chesapeake Energy’s Hogshooter discovery well is going down in company history. The well broke records in its first week online. In the first eight days, rates stretched to more than 7,305 boe/d. The Thurman Horn 406H well was drilled to a vertical depth of 10,000 ft, with a horizontal lateral of 4,900 ft. The well produced 5,400 b/d, 1,200 b/d of NGLs, and 4.6 mmcfd of natural gas. That’s a lot of hydrocarbons for an onshore well and the 5,400 b/d of oil set a record for CHK.
The company has only completed two Hogshooter wells to date. The first (Meek 41 9H) was drilled five miles from the Thurman well and produced 1,300 b/d of oil, 365 b/d of NGLs, and 1.4 mmcfd of natural gas in its first 27 days of production.
Two additional wells are waiting to be completed – the Zybach 6010H and the Hamilton 39 10H. The company has 30,000 net acres prospective in the play. Mostly, the acreage is held by deeper Granite Wash wells drilled in previous years. Current plans are for 65 additional wells going forward.
Don’t expect news of huge lease bonuses or high royalty rates. The Hogshooter is prospective across the Texas Panhandle and parts of Western Oklahoma where the Granite Wash has been producing for years. Most mineral owners have leases that are held by production from the deeper Granite Wash formation. The big bonus will be bigger royalty checks as these wells come online.
Also, keep in ear open for future results. Other companies in the area have had good wells and some not so good wells in the Hogshooter. A few data points aren’t enough to proclaim the Hogshooter a wide spread resource play. It could very well be a more conventional target.