Update from the field
Colorado update
Swan Energy’s Colorado projects saw a very active Q4. We spudded 27 wells as part of four pads in Wattenberg. Specifically, those wells include the Pratt pad where 6 wells were spud in addition to the Greenleaf pad (11 wells); Crow Creek pad (7 wells); and, Colt pad (3 wells). For the year, Swan participated in 47 wells in Colorado, of which 22 are producing an average of 344 BOEPD and another 25 wells are under completion.
There is no sign of slowing down in Wattenberg as Swan seeks to continue to grow production, reserves and revenue. We have received wellbore notifications for 10+ wells in the play. Also, in 2015 we will operate our first pad on the Swank lease. This is significant because we will be in charge of the workflow and the distribution of revenue. This will provide our partners greater access to field information from drilling through production, as well as a faster turnaround of revenue from the purchaser to the partner. The company will also participate in up to 100 non-op wells in Colorado.
Oklahoma update
In Q4, Swan drilled the Laflore 1-10 in McClain County located one mile north of the Oliver 1-15 well. This well came on flowing from the second Bromide formation at over 400 BOEPD. In 2014, Swan Energy participated in 13 new wells, of which 10 are producing an average of 72 BOEPD. An additional three wells are under completion.
The Sasquatch 1-34 in McClain County is currently being completed. This well offsets the Javaman 1-35 well.
Looking forward, we anticipate that Swan Energy and its JVs will participate in 6 to 10 new wells. Perhaps the most exciting news for Oklahoma is that we will participate in the drilling of our first horizontal well, the Mr. Ed, located in the Woodford play.
