LOGOS Resources II Announces Record-Breaking Production From Two Horizontal Mancos Shale Wells
FARMINGTON, N.M., Oct. 29, 2021 /PRNewswire/ -- LOGOS Resources II, LLC ("LOGOS"), announced today it has brought online two highly productive natural gas wells in the Mancos Shale, highlighting the potential for responsible development of the New Mexico and Colorado field as a significant new source of U.S. natural gas supply.
Early production rates at the Rosa Unit #654H and Rosa Unit #656, both in Rio Arriba County, are the highest achieved in the past 20 years within the San Juan Basin, a large natural gas producing area spanning southwest Colorado and northwest New Mexico that includes the Mancos Shale. The Rosa #654H achieved an average 30-day initial production ("IP30") rate of approximately 18.2 million cubic feet per day ("MMcfpd") and the Rosa #656H achieved an IP30 of 18.3 MMcfpd, while the wells were choked back by an average of ~33%. The IP30 for each well exceeded the previous Mancos gas horizontal IP30 record by ~40%.
"We are thrilled with the initial production rate of these wells," said Jay Paul McWilliams, CEO of LOGOS. "These results, which were achieved near the center of a large unit offering hundreds of additional locations, support our strategic view that substantial resource potential exists in the San Juan Basin, and give us confidence to pursue additional responsible development of the Mancos Shale. We believe the Mancos Shale could become one of the leading natural gas shale plays in the U.S."
The Rosa Unit #654H and Rosa Unit #656 wells were drilled from a single pad with an approximate 10,000-foot laterals in an area known as the Rosa Exploratory Unit (the "Rosa Unit"). The Rosa Unit, which is operated by a LOGOS affiliate and in which LOGOS is majority owner, encompasses approximately 54,000 acres.
About LOGOS Resources II, LLC
LOGOS, an ArcLight portfolio company, is an oil and gas acquisitions and development company focused on acquiring and developing assets in the San Juan Basin. The company was formed in 2016 with an initial capital commitment of $150 million and currently owns approximately 232,000 net acres with current production of approximately 100 million cubic feet equivalent per day. LOGOS owns approximately 50,000 net acres in the prospective Mancos horizontal gas window.
LOGOS' predecessor, LOGOS Resources, LLC, was backed by ArcLight with a capital commitment of $100 million and successfully divested the majority of its assets in Q3 2014. For more information, please visit LOGOS' website at www.logosresourcesllc.com.
About ArcLight Capital Partners
ArcLight Capital Partners is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, ArcLight has helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. ArcLight has invested approximately $25 billion in 113 transactions since inception. Based in Boston, the firm's investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational and commercial specialists as well as its 1,500+ person asset management affiliate.
More information about ArcLight, as well as a complete list of ArcLight's portfolio companies, can be found at http://www.arclightcapital.com.
SOURCE LOGOS Resources II, LLC
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