FARMINGTON, N.M. (AP) — The oil and gas industry is getting excited about a potential boom in northwestern New Mexico.
Preliminary results from some of the 22 exploratory wells drilled in the Mancos shale formation in the San Juan Basin show commercial potential for production, according to industry executives who visited Farmington this week.
Ken McQueen of Oklahoma-based WPX Energy Inc. told the Albuquerque Journal (http://bit.ly/Yv3MkJ ) that two wells the company drilled in 2010 in a dry natural gas section of the Mancos have produced 2 billion cubic feet of gas so far. He described the area as an "attractive target" to pursue.
"These two wells are in the top 10 best wells drilled by WPX to date," he said. "They're quite extraordinary for us."
This should read per the WPX wells in the Mancos Shale: 2 billion cubic feet of Natural Gas already produced per well and up to between 5 and 6 Billion cubic feet of natural gas per well upon completion
I was in NW New Mex last summer and the drilling seemed active....Plus, a family with a lot of acreage sold out for a $billion plus.