Swan Energy has participated in 40 new wells, with 12 of them in Oklahoma and 28 in Colorado. So far this year 1,312,962 BOE have been produced from our 103 wells, generating over $111,000,000 in gross revenue. Swan and its partnerships are currently participating in 7,500 BOEPD or approximately $637,500 per day.
In the third quarter, Swan Energy has participated in 15 new wells: 7 in Oklahoma and 8 in Colorado. Wells currently drilling and in completion for the quarter include: Coho, Crush, Double J, Marathon, Oliver, Bullfrog, and Swimmin’ Hole. We have more planned in Q4.
There are big things coming in 2015, including operating our own wells in Colorado. Swan Energy will operate its first Pad on the Swank acreage located just southeast of Hudson, Colorado. Swan Energy’s affiliates will control the workflow and will plan the drilling, completion, fracture treatments and every other aspect of getting the wells in production. This will provide our partners with greatly increased access to data and will expedite the revenue process. Our goal is for the process to be closer to the Oklahoma assets which deliver revenue like clockwork, 60–90 days from first production. Operating its own wells in the Wattenberg field is a big step for Swan Energy and its partners; it will help take everyone to the next level.
In Oklahoma, however, we believe that having Charter Oak Production operating our wells is as or more efficient than Swan operating its own wells. Charter Oak operates over 90 wells in McClain and the surrounding counties. After working with Charter Oak for the past six years there have been no issues and we continue to have a high degree of confidence in their ability to effectively operate wells.
Another “Wattenberg type” field in Oklahoma? Here’s the big scoop for our partners! We will be participating in the Mr. Ed well with Charter Oak Production Co. This will be the second horizontal Woodford well Charter Oak has drilled in McClain County. If successful, it could establish a major drilling boom in an area where we have nearly 15,000 gross acres.