The San Juan Basin extends 7,500 square miles across northwest N.M., and southwest Colo., where natural gas was first discovered in 1921. Now at age 102, it’s one of the nation’s oldest producing areas with sedimentary rock dating back 570 years to 2 million. Back in 2007, the San Juan was touted as the nation’s largest natural gas field with 12.9 TCF of recoverable reserves. But after years of decline, the basin saw a mass exodus in 2017 of the largest oil and gas players, leaving its fields and assets for sale to independents.
Now one of them is breaking production records not seen in 50 years.
Reese Energy Consulting today is following news from LOGOS Energy, a pure-play San Juan producer that operates 230,000 net acres with 106 MMCFED in production along with an extensive inventory in the Mancos Shale play. Following its eight-well 2022 drilling program, LOGOS now reports one of its wells has achieved peak 30-day production of 24.9 MMCFED—more than any single well drilled in the San Juan Basin since 1973. And according to CEO Jay Paul Williams, there’s a lot more where that came from. With his recent success checking all the economics boxes, Williams is on his way to develop hundreds of drilling locations in the Mancos, which he believes could well become one of the leading natural gas shale plays in the U.S.