With the Cline Shale still in an exploration stage in Mitchell County, rumors of mass invasions of rigs have been spreading through the region. Though the boom is, with almost all certainty, predestined, the time frame may be a bit more drawn out for the rigs themselves..
According to Tim Hartley, spokesman for Devon Energy, the third largest oil and gas producing company in the world has current plans to bring a total of four rigs to the Cline Shale in the next 10 months.
“We are still in an exploratory phase in the Cline Shale,” Hartley said. “We into to deploy a four-rig approach in the area. We expect to use the four rigs to drill 30 wells at various depths and with different lateral lengths, allowing us to find our optimal path for production.”
According to Hartley, Devon will spend in the neighborhood of $140 million on this exploratory process which he said should last throughout 2013.
“We are very optimistic about the possibilities in the Cline Shale,” Hartley added. “We too are hopeful the play will be everything everyone would like to see in that area.”
Currently, Devon Energy has two rigs in the Cline Shale. Both came on line Friday morning.