Ann: Managing Director Address to EGM, page-3

Trying to dig up some info on the shallow gas at Madden.

In 1990 LL@E stated that the shallow formations at Madden had produced 300 BCF  with around 900 BCF to come.

http://www.ogj.com/articles/print/v...ming-wildcat-starts-in-madden-field-area.html

In 1998, Burlington were producing 110 MMCFGPD from the shallow zones, the Deep Madison was restricted to 50MMCFGPD at that stage but about to ramp up as the gas plant was being expanded. Total field production was just over 0.5 TCF, the majority from the shallow zones.




Full article below

http://unitcorp.com/pdf/Wyoming.pdf

below is a table from 2007 showing current produced gas from each formation to 2005.



Amazing to see just 8 deep wells producing over 400 BCF !  The Cody formation looks to be a cracker as well .

Full article

https://pubs.usgs.gov/dds/dds-069/dds-069-j/REPORTS/69_J_CH_7.pdf

Should be more recent data on production but haven't found it yet.

So it appears that there could be a couple of hundred + BCF of gas reserves in the shallow Madden formations which are a combination of 1P developed producing, 1P non producing and 2p which should be added to gross reserves.  Looks like some oil has also been produced also.

Must admit to being a little perplexed as to why these formations which currently produce at 30 MMCFGPD were not / are not included  in the numbers for the sale.  Are they not profitable at current  prices or were Freeport really that lazy with this asset?   

Cheers

Dan