American Oil and Gas Reporter - September 2016 - 71

Bill Barrett released its only rig in the
Wattenberg early in the first quarter, so it
is not currently drilling. Busnardo acknowledges the company has to drill to grow, but
he says it is looking for more price stability first. "We want to make sure there is no
change," he emphasizes. "Last year, there
was a price spike in June and we made the
decision to add a rig. Then prices fell off.
When we see more stability, we will start
drilling again."
Uinta Basin
Bill Barrett also has an oil development
project in the Altamont-Bluebell Trend in
the Uinta Basin in northeastern Utah. Its
Uinta Oil Program has an established inventory based on vertical drilling on 80and 160-acre spacing from the Lower
Green River through the Wasatch formations, Busnardo reports.
However, the company is not currently drilling in the Uinta Basin, and announced on May 2 it had entered an
agreement with an unaffiliated third party to sell certain noncore assets in the Uinta Oil Program for approximately $30 million. Those assets produced about 1,000
barrels of oil equivalent a day (63 percent
oil) during the first quarter and had proved
reserves of 2 million boe (87 percent
proved, developed) as of Dec. 31. Busnardo says the transaction closed in July.
"Our focus continues to be on our core
acreage in the Northeast Wattenberg," he
states. "We would divest the remainder of
our Uinta leasehold with the right offer, and
we are looking at opportunities to expand
our acreage position in the Northeast
Wattenberg."
Powder River Basin
Devon Energy has a leasehold of
470,000 net acres in the Powder River
Basin in Wyoming. Chief Operating Officer Tony Vaughn announced in the company's first-quarter operational report that
Devon's Rockies oil production increased
39 percent year over year, primarily driven by growth in the Power River Basin.
New well activity in the Powder River Basin in the first quarter was highlighted by two appraisal wells targeting the
Turner formation on acreage Devon acquired in Converse County, Wy. Initial 30day rates from these standard-length-lateral wells in the Cottonwood Draw Unit
averaged 850 boe/d (85 percent light oil),
according to Vaughn. When normalized for

extended-reach laterals, which is the likely well design in the play's development
mode, he says these wells are estimated to
reach 30-day rates around 1,500 boe/d.
Vaughn claims the encouraging results
from the two appraisal wells affirm the significant Turner potential in the southern portion of the Powder River oil fairway.
While the company is achieving strong
operational results from its Powder River Basin program, Devon announced it had
elected to limit its capital spending to
around $75 million this year to conserve
cash flow. For the remainder of the year,
Vaughn says the company will focus on integrating its recently acquired acreage in
the southern portion of the Powder River
oil fairway. That includes re-permitting development locations from standard to extended-reach laterals, as well as additional geologic and reservoir modeling.
In June 2015, Devon began operations at its Big Sand Draw carbon dioxide
facility in the Wind River Basin, and the
company announced in its first-quarter report that it expected production to exceed
3,000 bbl/d oil during the first half of 2016.
Production growth is projected to accelerate in the second half of the year, according to Vaughn, and peak near 5,000 bbl/d
early in 2017.
Devon has a 98 percent working interest and a 75 percent net revenue interest
in the Big Sand Draw project. Combined
with the company's Madison CO2 facility, which is now fully operational, production is expected to achieve peak rates of
nearly 8,000 boe/d.
❒

WBI Energy Unveils Plans
For N.D. Pipeline Project
BISMARCK, N.D.-WBI Energy Inc., a
pipeline and midstream subsidiary of MDU
Resources Groups Inc., says it will build a
38-mile pipeline to deliver natural gas to eastern North Dakota and far western Minnesota. The company says its customers in the
region have expressed significant interest in
its Valley Expansion Project.
The proposed pipeline would connect the Viking Gas Transmission Company pipeline near Felton, Mn., to WBI
Energy's pipeline near Mapleton, N.D.
"The project will help fuel industrial
and commercial growth in eastern North
Dakota and western Minnesota," assesses David L. Goodin, president and chief
executive officer of MDU Resources. ❒

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SEPTEMBER 2016 71


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Table of Contents for the Digital Edition of American Oil and Gas Reporter - September 2016

Contents
American Oil and Gas Reporter - September 2016 - Cover1
American Oil and Gas Reporter - September 2016 - Cover2
American Oil and Gas Reporter - September 2016 - Contents
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