The Eagle ford Shale in 2013/2014 -
The Eagle Ford Shale was the hottest oil play in the United States in 2012 and is still only getting started. The
best oil field currently is the Bakken Shale located in North Dakota. However, while the acreage land grab for mineral rights is starting to wind down, the Eagle
Ford Shale is set to produce a ton of oil into 2014. The major players in the Eagle ford Shale are here to stay but
the natural gas window seems to be getting very quiet. If Natural Gas prices ever rebound, the Eagle Ford Shale
will make a one two punch with high oil and natural gas rates. Expect 2013 to bring huge joint ventures to the Eagle
Ford Shale's oil window. Oil prices should spike north of $100 at some point in 2014.
EOG Resources (EOG) announces
major oil discovery in the Eagle Ford Shale - In
South Texas, EOG has accumulated acreage across six counties in the Eagle Ford Play.
EOG Resources EOG - EOG Resources recently provided their summer 2013 update - EOG's South Texas Eagle
Ford crude oil operations surpassed expectations due to ongoing refinements in completion techniques. During the quarter,
27 wells were put to sales with initial production rates in excess of 2,500 barrels of crude oil per day (Bopd), including
nine which exceeded peak production rates of 3,500 Bopd.
In the South Texas Eagle Ford, the Guadalupe Unit
#01H, #02H, #03H, #04H, #09H, #10H, #11H and #12H had initial rates ranging from 2,175 to 4,490 Bopd with 265 to 630 barrels
per day (Bpd) of natural gas liquids (NGLs) and 1.5 to 3.6 million cubic feet per day (MMcfd) of natural gas in Gonzales County.
Other excellent Gonzales County producers were the Lepori Unit #1H, #2H and #3H, which flowed at initial production rates
of 3,490, 3,900 and 3,880 Bopd with 530, 585 and 590 Bpd of NGLs and 3.0, 3.4 and 3.4 MMcfd of natural gas, respectively.
The Lefevre Unit #1H and #2H had initial crude oil production rates of 3,195 and 3,180 Bopd with 425 and 525 Bpd of NGLs and
2.4 and 3.0 MMcfd of natural gas, respectively. The Otto Unit #4H, #5H and #6H were completed to sales at 3,915, 3,125 and
3,485 Bopd with 570, 485 and 555 Bpd of NGLs and 3.3, 2.8 and 3.2 MMcfd of natural gas, respectively. EOG has 100 percent
working interest in these 16 Gonzales County wells.
of its Gonzales County acreage in Karnes County, EOG reported additional notable well results. The Wolf Unit #1H and #2H,
in which EOG has 100 percent working interest, began sales at 5,380 and 4,475 Bopd with 400 and 500 Bpd of NGLs and 2.3 and
2.9 MMcfd of natural gas, respectively. The Lazy Oak Unit #4H and #5H went to initial production at 2,025 and 2,680 Bopd with
170 and 240 Bpd of NGLs and 1.0 and 1.4 MMcfd of natural gas, respectively. EOG has 50 percent working interest in these wells.
EOG has 100 percent working interest in the Korth Unit #1H and #2H, which were completed to sales in January at 3,980 and
3,580 Bopd with 415 and 450 Bpd of NGLs and 2.4 and 2.6 MMcfd of natural gas, respectively.
In February 2013, EOG increased the reserve potential on its Eagle Ford acreage by 600 million barrels of crude oil
equivalent (Boe) to 2.2 billion Boe and identified a 12-year inventory of more than 4,900 remaining drilling locations. Currently,
EOG is pursuing manufacturing-type development of its highest rate-of-return asset with 40-acre to 65-acre spacing between
wells. Based on efficiency gains and well cost improvements, EOG plans to increase its drilling program in the Eagle Ford
from 400 to 425 net wells this year. If crude oil prices remain at or above current levels, EOG will further augment its drilling
program in 2014.
Companies Drilling in the Eagle Ford Shale
- Eagleford Shale Stocks 2013
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- Anadarko Petroleum APC - Anadarko Petroleum Eagle Ford Shale - Anadarko is among the largest producers in the Eagleford Shale with approximately
400,000 gross acres in Dimmit, LaSalle, Maverick and Webb Counties. In 2012, the company accelerated production growth in
the Eagleford Shale achieving a gross processed production record of approximately 152,600 BOE per day.
Eagle ford Shale activity delivered net sales volumes of 42,200 BOE/d in the quarter, representing a 55% increase over
the 1st quarter of 2012. The company achieved total liquids volumes of approximately 28,000 barrels per day, a 60% overall
increase, including a 42% percent oil increase over the 1st quarter of 2012. The company ran an average of eight rigs
and drilled 70 wells during the quarter. Construction of the 200 MMcf/d Brasada cryogenic natural gas plant remains
on schedule for a 2nd quarter2013 startup.
Chesapeake Energy CHK - Eagle
Ford Shale (South Texas): Chesapeake continues to generate strong liquids production growth rates from its Eagle Ford Shale
play in South Texas. Net production during the 2013 first quarter averaged 75,000 barrels of oil equivalent (boe) per day
(166,000 gross operated boe per day). This represents an increase of 225% year over year and 20% sequentially. Approximately
65% of the company’s Eagle Ford production during the 2013 first quarter was oil, 18% was NGL and 17% was natural gas.
of March 31, 2013, Chesapeake had drilled a total of 887 wells in the Eagle Ford, which included 650 producing wells, 34 additional
wells waiting on pipeline connection and 203 wells in various stages of completion. The company is currently operating 15
rigs in the play and plans to reduce its operated rig count to 13 rigs in the second half of 2013. Spud-to-spud cycle times
during the quarter were 18 days, down from 25 days year over year. Chesapeake plans to have substantially all of its core
Eagle Ford acreage held by production by the end of 2013. The average peak daily production rate of the 111 wells that commenced
first production during the 2013 first quarter was approximately 950 boe per day.
Three notable wells completed by Chesapeake
in the Eagle Ford during the 2013 first quarter are as follows:
The Gates 010-CHK-A TR3-J2H in Webb County, TX achieved a peak rate of approximately
3,110 boe per day, which included 930 bbls of oil, 1,160 bbls of NGL and 6.1 million cubic feet (mmcf) of natural gas per
The PGE Browne G 4H in Webb County, TX achieved a peak rate of approximately 1,840 boe per day, which included 770
bbls of oil, 570 bbls of NGL and 3.0 mmcf of natural gas per day; and
The Sultenfuss Unit 6H in Dimmit County, TX achieved
a peak rate of approximately 1,360 boe per day, which included 1,260 bbls of oil, 60 bbls of NGL and 0.2 mmcf of natural gas
Chesapeake is in the process of selling a portion of its northern Eagle Ford Shale leasehold and producing assets
which are outside of its core development area.
Apache Corp ( APA ) - Apache is now the leader in the Eagle Ford Shale. Apache leads two of the hottest natural gas shale plays in
North America. The other would be the Horn River Basin which is located in British Columbia.
Leo Mariani – RBC Capital Markets - from seekingalpha
was wondering if there was any update on the Eagle
Ford Shale if you guys have done anything there
recently, picked up any acreage or drilled any new wells.
G. Steven Farris
Well, we have a pretty
good acreage position in there presently we have about 450,000 acres through the oil side and some in the gas side. In fact,
we're re-looking that. We're not drilling a well at the present time. We're re-looking pressures and core analysis to try
to figure out we drilled a horizontal well that was a very marginal well, frankly, on the gas side.
ConocoPhillips ( COP ) - ConocoPhillips COP Eagle Ford Shale Update - ConocoPhillips continued its focus on the liquids rich Eagle Ford, Bakken and North Barnett shale plays in 2013 - During the quarter, Eagle Ford production averaged 101,000 BOE per day with a peak net production of
110,000 BOE per day. So volumes were up 13% sequentially compared to 89,000 BOE per day in the fourth quarter of last year.
We expect to complete the drilling phase of each acreage capture in the Eagle Ford by mid this year and then be fully
held by production by the end of the year. And as we approach this milestone, we're focused on planning for full field development.
Exxon Mobil XOM - Exxon Mobil is drilling the Eagle Ford Shale 2013 - They also
continue to increase activity in our liquids-rich opportunities in the Eagle Ford and Bakken plays. Check back here
for the latest updates coming soon.
Occidental Petroleum OXY - Occidental Petroleum has entered the Eagle Ford Shale in South Texas - The South Texas acquisition from Shell were
about $1.8 billion gives us properties, which have over 320 billion cubic feet of gas equivalent, improved and developed reservoirs
and are liquids-rich with a solid inventory of building opportunities. Oxy has already made producing in Texas, and East South
Texas assets further expand our footprint in the state.
Murphy Oil MUR - Murphy Oil (MUR) Eagle Ford Shale in South Texas - In the Eagle Ford Shale,
the development is really going well for us. Due to drilling efficiency, we've cut back our drilling plans to 9 rigs at present.
However, with continued pad drilling performance at such a rapid pace and improved efficiency and frac work, we expect to
reduce our rig count to as low as 8 rigs by mid-year in order to maintain our planned capital spend in the play. In addition
to our rig program, we are continually running 3 to 4 frac units at this time.
We're currently focusing on our 100% working interest lands in the Tilden
area. This month, our net production at Tilden will exceed that of our Karnes field. We continue to focus on supply costs,
with operating expenses in quarter 2 seem to be below those of quarter 1 with new facilities coming online and rental testing
being removed in the Tilden area. We've now drilled 268 wells in the play and have 222 wells on production. Production averaged
just under 29,000 BOE per day net in quarter 1, and we're currently planning on producing over 38,000 net this year. This
quarter 1 2013 production level is over 4,600 barrels a day higher than the fourth quarter of 2012.
The processor is strong in the Eagle Ford
for quarter 1, averaging over 115 per barrel at an $8.70 discount to LLS. The progress in 2 40-acre downspacing projects in
the Eagle Ford, with 1 6-row pilot at Karnes slated to flow in July. In addition, we're testing a 40-acre pilot in Tilden,
with planned production in September. We're continuing to experiment with all forms of well design, including azimuth, length
and orientation, as well as frac techniques. As with any resource play, there will be continued technological upside here
in the long term.
our 48,000-acre Pearsall Shale area that lies beneath Tilden Eagle Ford Shale, we've drilled, cored and logged 4 wells and
have completed 2 horizontal wells in the play. The first well, our most northern well, has flowed over 50 days at levels approaching
200 barrels a day, with little gas seen in the production strain. Our second well has just started to flow. It's been flowing
for 8 days, and it's presently exceeding 400 barrel equivalent at near 70% oil. Both of these wells have been flowed on normal
technique of using very small choke sizes for long periods of production.
This flowback method has clearly shown to exhibit top quartile production
levels and improved EURs in all of our Eagle Ford Shale completions. We're encouraged by these initial results in the Pearsall
and plan to follow up with more wells over the next year.
Cabot Oil & Gas (COG) - Cabot Oil & Gas (COG) is very active in the Eagle Ford Shale - Moving to the Eagle Ford.
We don't have a whole lot to say on the Eagle Ford since we just moved a rig back there during the quarter. But to date, we
have 43 wells producing in the Buckhorn area, with 3 wells waiting on completion and 1 well currently drilling. While we've
had limited activity, as I mentioned, in the Eagle Ford due to the Pearsall effort, our last 4 wells produced at an average
24-hour rate of over 650 barrels of oil equivalent per day, with an oil cap of approximately 90%. During the quarter, we drilled
our longest lateral to date in the Eagle Ford at 8,200 feet. The well was completed with 30 stages and is still in the early,
early stages of flowback. However, it is already providing oil rates above the field average IP. It's good data but still
the liquids-rich Eagle Ford Shale play in South Texas, the Company drilled 37 wells in the first quarter and placed 35 wells
on production. Pioneer increased its Eagle Ford Shale production by 7% from 35 MBOEPD in the fourth quarter of 2012 to 37
MBOEPD in the first quarter, achieving another record production level. Strong well performance continues to drive this growth.
The Company expects 2013 production to range from 38 MBOEPD to 42 MBOEPD, an increase of 36% to 50% compared to full-year
2012 production of 28 MBOEPD.
Pioneer expects to drill approximately 130 Eagle Ford Shale wells in 2013 at a cost
of $7 million to $8 million per well. Essentially all of these wells will be liquids-rich wells, with minimal dry gas drilling
expected during the year. Pioneer’s drilling operations in the Eagle Ford Shale continue to become more efficient. The
number of wells drilled from pads, as opposed to single-well locations, is expected to increase from 45% of the wells drilled
in 2012 to 80% of the wells drilled in 2013, reflecting that most of Pioneer’s acreage is now held by production. Pad
drilling saves $600 thousand to $700 thousand per well and will result in Pioneer being able to drill 130 wells with 10 rigs
in 2013 compared to drilling a similar number of wells in 2012 with 12 rigs.
Pioneer has been using lower-cost white
sand instead of ceramic proppant to fracture stimulate wells drilled in shallower areas of the Eagle Ford Shale field. The
Company is now expanding the use of white sand proppant to deeper areas of the field to further assess its performance limits.
The Company fracture stimulated 22 wells with white sand proppant in the first quarter, with a savings of approximately $700
thousand per well. Early performance from wells fracture stimulated with white sand over the past two years has been similar
to direct offset ceramic-stimulated wells. Pioneer is continuing to monitor the performance of these wells and expects that
approximately 70% of its 2013 drilling program will use the lower-cost white sand proppant.
Eleven central gathering
plants (CGPs) are now operational as part of the joint venture’s Eagle Ford Shale midstream business. One additional
CGP is expected to be added during 2014. Pioneer’s share of its Eagle Ford Shale joint venture midstream activities
is conducted through a partially-owned, unconsolidated entity. Operating cash flow from the midstream business is expected
to be able to fund ongoing midstream infrastructure build-out costs. Cash flow from the services provided by the midstream
operations is not included in Pioneer’s forecasted operating cash flow.
Hess HES - Hess (HES) sells Eagle Ford Shale stake in April 2013 - Hess agreed to the sale of our acreage in the Eagle Ford shale
play in Texas for $265 million, relieving our company of approximately $500 million of capital expenditures over the next
Forest Oil Corporation FST - Forest Oil (FST) - In South Texas, the Eagle Ford Shale is an area of great potential. The formation produces
oil, natural gas, and natural gas liquids at various depths from 4,000 to 14,000 feet. Initial results suggest that this play
will be an asset with a repeatable drilling inventory for a long time. We made progress during the first quarter in
achieving our strategic goal of accelerating the development of our oil inventory by announcing an Eagle Ford Shale development
agreement. This is an important transaction for our shareholders and our company as we believe it will accelerate development
and production growth, bring forward significant economic value and generate notably more lease level income compared to our
previous plan. Establishing a partnership with an industry leading service and technology company should allow us to optimize
all facets of our drilling and completion operations, so that we can deliver the best possible results from this important
oil asset. We also believe we are carrying momentum into this partnership, as our gross production from the Eagle Ford Shale
in April reached a record high of 4,700 Boe/d.
- SM Energy SM - SM Energy (SM) Eagle Ford Shale Update - The Company's operated net production
in the Eagle Ford shale averaged 51.8 MBOE per day in the first quarter of 2013, a 15% sequential increase over fourth quarter
of 2012 production of 45.2 MBOE per day. Average daily production in the first quarter from the Company's operated Eagle Ford
shale program increased 74% over the first quarter of 2012. During the first quarter of 2013, SM Energy operated five drilling
rigs on its operated Eagle Ford shale acreage and made 28 flowing completions.
In the non-operated portion of the
Company's Eagle Ford shale program, net production for the first quarter of 2013 averaged 16.0 MBOE per day, an increase of
approximately 3% over the fourth quarter of 2012. The operator ran nine drilling rigs during the first quarter of 2013.
- Rosetta Resources ROSE - Rosetta Resources (ROSE) Eagle Ford Shale Program - The
Company operated five to six rigs in the Eagle Ford area during the quarter. At the end of the quarter, 38 drilled wells were
awaiting completion. Since beginning operations in the Eagle Ford area, Rosetta has completed 142 horizontal Eagle Ford
wells as of March 31, 2013. Approximately 86 percent of the Company's identified Eagle Ford inventory locations remain to
be drilled and completed.
plans to drill 75 to 80 wells and complete 60 to 65 Eagle Ford wells during 2013. During the second quarter of 2013, the Company
expects to complete 15 to 20 Eagle Ford wells and continue to operate five to six rigs in the play, including two to three
rigs in the Gates Ranch area.
Swift Energy SFY - Swift Energy SFY Eagle Ford Shale
- South Texas - Eagle Ford Operations - In the Company’s South Texas core
area, nine operated wells were completed during the first quarter. In McMullen County, four Eagle Ford wells and two
Olmos wells were completed. In La Salle County, three Eagle Ford wells were completed.
In the first quarter of 2013, Swift Energy drilled ten operated
development wells and one non-operated development well. In the Company’s South Texas core area, six horizontal
wells were drilled to the Eagle Ford shale, five in La Salle County and one in McMullen County, and three were drilled to
the Olmos formation in McMullen County.
Marathon Oil MRO
- Marathon Oil (MRO) Eagle Ford Shale - Marathon Oil's average net production in the Eagle Ford shale grew approximately
22 percent from the fourth quarter of 2012 to approximately 72,000 boed in the first quarter. Approximately 64 percent of
first quarter production was crude oil/condensate, 17 percent was natural gas liquids (NGLs) and 19 percent was natural gas.
For the month of April, the Company estimates average production was approximately 76,000 net boed. During the first quarter,
Marathon Oil reached total depth on 76 gross Company operated wells and brought 68 gross operated wells to sales. Marathon
Oil has continued to advance its drilling performance in the Eagle Ford, improving its spud-to-spud performance 36 percent
from the first quarter of 2012 (28 days) to the first quarter of 2013 (18 days). The Company expects the spud-to-spud time
to continue dropping during 2013 as additional efficiencies are gained from pad drilling.
Marathon Oil continues
to build infrastructure to support production growth across the Eagle Ford operating area. Approximately 148 miles of gathering
lines were installed in the first quarter of 2013, while five new central gathering and treating facilities were commissioned,
with two additional facilities in various stages of planning or construction. The Company currently transports approximately
65 percent of its crude/condensate by pipeline, with additional contract negotiations and facility designs under way that
are expected to push that figure to 75 percent by the end of May. The ability to transport more barrels by pipeline enables
the Company to reduce costs, improve reliability and lessen its environmental footprint.
Whiting Petroleum (WLL) - Prospective Eagle Ford Acreage Sold for $66.4 Million, $12,542 per Net Acre
During the third quarter, Whiting sold approximately 3,532 net leasehold acres prospective for oil and gas production from
the Eagle Ford formation in Karnes, Live Oak and Dewitt Counties, Texas for a total cash consideration of $66.4 million before
closing adjustments. The transaction, which was effective July 1, 2011, closed on September 29, 2011. Whiting used the net
proceeds from the property sale to reduce the amount drawn under its Credit Agreement.
The non-core acreage sold is
located in Kawitt, Nordheim and Three Rivers Fields, which produce from the Speary, Edwards, Wilcox and Eagle Ford formations.
Recent net daily production was approximately 4.0 MMcfe from 33 producing wells. The property sale also included 16 shut-in
and temporarily abandoned wells. The estimated proved net reserves associated with the producing properties were 1.1 MMBOE.
Whiting valued the existing production in the transaction at $22.1 million net of plugging liabilities and the acreage at
$44.3 million net of the production value, or approximately $12,542 per net acre.
Plains Exploration & Production - PXP - Plains Exploration PXP ( Now Freeport McMoRan Copprt & Gold (FCP) ) Eagle Ford Shale Update - In the Eagle Ford Field, first-quarter daily sales volumes averaged 44.7 thousand
BOE per day net to PXP compared to first-quarter 2012 average daily sales volumes of 13.9 thousand BOE per day net to PXP.
At the end of March, PXP had 7 drilling rigs operating and 31 wells drilled but waiting on completion or connection to pipelines.
Schlumberger (SLB) - In US Land, advanced Schlumberger Drilling & Measurements technologies including the EcoScope* multifunction
system, the SonicVISION* sonic-while-drilling service and the PowerDrive* rotary-steerable system have been deployed in 11
wells in various shale plays including the Woodford, Eagleford, Haynesville and Marcellus formations. As well as being used to place wells in the ideal part of the reservoirs and maximize completion and stimulation
efficiencies, the technologies saved three days' worth of rig time per well in data acquisition and drilled the lateral sections
two days faster than conventional motor technology.
Crimson Exploration CXPO - South Texas Shale - Crimson Exploration (CXPO) has 8,600 acres in the Eagle Ford Shale play - In Dimmit County, Texas,
Crimson successfully drilled the Beeler #2H, its first well targeting the Buda formation, and anticipates full flowback operations
to commence by mid-May. The well was drilled to a total measured depth of 11,013 feet, including an approximate 3,700 foot
lateral, and will be completed naturally without fracture stimulation. The total cost to drill and complete the Beeler #2H
was below the Company’s initial estimates of $4 million.
Crimson is very
encouraged about the Buda potential, and views this area as another opportunity for oil and liquids growth. The Beeler #2H
is located in Crimson’s Booth-Tortuga Area where the Company currently has approximately 8,475 gross acres. Crimson
plans to spud its second well targeting the Buda formation in early third quarter 2013.
Newfield Exploration NFX - Eagle Ford Shale - Newfield Exploration (NFX) Drilled six additional super extended lateral
wells in the Eagle Ford Shale with well costs lowered by $0.4 million over 2012 average completed well costs. Wells are in
various stages of completion with a 45% increase in quarter-over-quarter Eagle Ford production expected in the second quarter
Halcon Resources (HK) - Halcon Resources (HK) Eagle Ford Shale 2013 - The Company recently unveiled a 50,000 net acre position in
East Texas that is targeting the Eagle Ford shale. Halcón will focus on defining the play area throughout the balance
of 2013, and expectations are to build an aggregate position of up to 150,000 net acres over time.
The Company averaged one operated rig, spud two wells and completed
two wells in El Halcón during the first quarter of 2013. The average initial and 30 day production rates for the applicable
wells completed in the quarter were 1,028 Boe/d (94% oil) and 831 Boe/d (94%) oil, respectively. These wells have an average
effective lateral length of 6,379 feet and were completed with an average of 33 frac stages.
Halcón recently drilled the Bumble Bee 1H well in Brazos
County in 25 days (spud to rig release) with a pilot hole. This well has an effective lateral length of 8,870 feet, which
is 39% longer than the average for the two wells completed in the first quarter. The curve was drilled in 24 hours and the
lateral was drilled in 5.75 days.
are currently seven Eagle Ford wells producing, one well being completed and three wells being drilled.
Goodrich Petroleum GDP - Goodrich Petroleum (GDP) Eagle Ford Shale Update - Eagle Ford Shale Trend, LaSalle and Frio Counties, Texas - In the Eagle Ford Shale trend, the Company conducted drilling operations
on 5 gross (3.3 net) wells in the quarter, and expects to drill 24 gross (16 net) wells in 2013. In the quarter, 3 gross
(two net) wells were completed, and the Company expects to complete 25 gross (16.8 net) wells for the year. The Company
has reduced its drill time on recent wells by approximately 57% from the initial wells drilled in the field, to 10 days for
an average 6,000 foot lateral, which along with a reduction in frac costs, has substantially decreased the well costs and
increased the well count for the year.
Talisman Energy TLM - Talisman TLM Eagle Ford Shale Play Drilling Update - Talisman’s interests
in the Eagle Ford shale play are located in south Texas, where the Company now holds approximately 74,000 net acres of land.
Transition towards shared operatorship with Statoil is progressing pursuant to the South Texas Joint Development Agreement
(‘‘STJDA’’) with Statoil. Talisman will transfer operatorship of the eastern part of the play to Statoil
in 2013. The STJDA will remain in force, with each company continuing to hold a 50% share of the entire play where the joint
venture operates. Talisman’s strategy in this play is focused on developing areas with higher liquid yields. Production
at the end of 2012 was 20 mboe/d and averaged 15 mboe/d for the year, up from 5 mboe/d in 2011. Pursuant to the STJDA, Talisman
and Statoil plan to continue to develop the liquids-rich areas and expect to operate seven rigs in 2013
Penn Virginia PVA - Penn Virginia (PVA) Eagle Ford Shale Update - As of early May 2013, PVA has approximately
80,200 gross (approximately 54,200 net) acres in the volatile oil window of the Eagle Ford Shale play in Gonzales and Lavaca
Counties, Texas. We entered this play in August 2010 and have built an estimated inventory of up to 766 well locations
(120 of which were producing as of early May 2013).
As of early May 2013, we have five operated
drilling rigs and two non-operated rigs running in the Eagle Ford Shale. We continue to consider opportunities to expand
our position, having added approximately 47,000 net acres through acquisitions, leasing and non-consents over the past three
years. We estimate as of year-end 2012 that we had 26.2 MMBOE of proved reserves in South Texas, 90% of which were oil
and NGLs and 37% of which were developed. Pro forma for the acquisition of 12.0 MMBOE of Eagle Ford Shale assets in
April 2013 for approximately $400 million, our proved reserves in the Eagle Ford Shale were approximately 38.2 MMBOE at December
Comstock Resources CRK - Eagle Ford Shale - Comstock reported on the results to date of its 2013 drilling program related to its
continuing operations which is focused on developing its Eagle Ford oil shale properties in South Texas. During the
first three months of 2013, Comstock spent $56.1 million on its continuing development and exploration activities and $2.1
million on acreage and other acquisition costs. Comstock drilled 11 horizontal oil wells (7.2 net) and had three wells
(2.3 net) drilling at March 31, 2013.
the beginning of 2013, the Company has completed ten (6.4 net) horizontal Eagle Ford shale wells including six (3.8 net) wells
drilled in 2012. The ten Eagle Ford shale wells that were completed had an average per well initial production rate
of 854 barrels of oil equivalent ("BOE") per day. The 2013 completions have an average initial rate that is
32% higher than the average initial rate in 2012. The four wells with the highest initial production rates were the
Swenson A #1H, the Gloria Wheeler C #1H, the Gloria Wheeler A #3H, and the Rancho Tres Hijos B #1H. These wells are
located in McMullen County and had initial production rates of 1,222, 1,032, 978 and 968 BOE per day, respectively.
Gastar Exploration GST - In addition to its Bossier natural gas activity, Gastar has performed initial testing of shallower oil potential in the
Eagle Ford/Woodbine Shale and Glen Rose Limestone, both of which lie above the Bossier at depths of about 6,500 to 14,000
Results of these drilling tests have been inconclusive
to date, and Gastar has opted to monitor the activities and results of other producers who are also testing these same oil-bearing
formations immediately to the east and south of its acreage before committing additional capital to further drilling tests.
Carrizo Oil & Gas CRZO - Carrizo Oil & Gas (CRZO) Eagle Ford Shale Update 2013 - The Eagle Ford
Shale trend extends from the Texas border with Mexico, past San Antonio, east toward Houston. The eastern economic limit of
the play has yet to be established. Reserves associated with the Eagle Ford vary from dry gas in the deeper southernmost portion
of the play, in a trend from Webb to De Witt County, to black oil with little associated gas at its northern limits along
a trend from Zavala to Fayette County. Carrizo elected to restrict its land acquisitions to the central portion of the trend
with the intent to develop reserves consisting of light oil and condensate with a moderate amount of associated rich natural
gas. Carrizo's mineral leases and leasing activities are located primarily in La Salle County with smaller positions in Dimmit,
Atascosa, Frio, and McMullen Counties. Most information that current and potential mineral royalty owners will need can be
found in these Eagle Ford related web pages.
Q1 2013 Update - "During the quarter we were able to add a little
over 4,300 net new bolt-on acres to our Eagle Ford position in La Salle County, TX at an attractive price due to near-term
lease expirations. We immediately moved one of our three rigs onto these leases in order to hold the acreage. In the second
quarter we will initiate the investigation of further Eagle Ford down-spacing from our current 750 feet between laterals by
drilling two wells with approximately 500 feet between well bores. We expect to complete and test these wells in the third
quarter. We plan to complete and test our horizontal well drilled to evaluate the Pearsall potential below our Eagle Ford
acreage in May.
Abraxas Petroleum (AXAS) - Abraxas Petroleum (AXAS) Eagle Ford Shale Update - In McMullen County, the Mustang 2H averaged 511 boepd (469 barrels of
oil per day, 249 mcf of natural gas per day) on a restricted choke over its first 30 days of production. The Mustang 2H is
currently flowing to sales at a rate of 437 boepd (407 barrels of oil per day, 177 mcf of natural gas per day). The Sting
Ray A 1H, Abraxas’ first 29 stage, 7,500 foot lateral well, is currently being fracture stimulated. Immediately following
the completion of the Sting Ray A 1H, the stimulation crew will begin completion operations on the Corvette A 1H. Currently,
Abraxas is drilling the first of the Company’s two forty acre pilot wells, the Camaro B 4H below 10,000 feet. Abraxas
owns an 18.75% working interest in the Mustang 2H and Sting Ray A 1H and a 25% working interest in the Corvette A 1H and Camaro
Stone Energy (SGY) - Stone Energy SGY Eagle Ford Shale Update - Eagle Ford shale - Moczygemba #1H (Onshore Oil). This
horizontal well was recently put on pump and is flowing approximately 400 Boe per day, after producing at an initial rate
of over 800 Boe per day. The drilling of a second well (Jarzembek #1H) began in mid-October and a third well is expected to
also be drilled before year end. Stone holds a non-operated 42.5% working interest and approximately 1,600 net acres in this
Royal Dutch Shell (RDS) - Royal Dutch Shell (RDS) recently gave an Eagle Ford Shale Update - Yeah Eagleford overall most of our
liquid activity today is on Eagleford is a little bit elsewhere (Utacurran) and Canada but most of its Eagleford
about 14 rigs quarter million acres, 250,000 about 60% of it is condensate-rich that’s where we are focusing the activity
this year is that right? Yes
Sanchez Energy (SN) - Sanchez Energy (SN) currently has a total of 91,000 net acres in the Eagle Ford shale trend in south Texas, with
a specific focus on the volatile oil, black oil, and condensate windows of the trend. The company's acreage position
is divided into three main project areas as follows:
Palmetto: approximately 9,400 net acres (18,800 gross
acres) in Gonzales County, Texas where the company has 50% working interest;
Marquis: approximately 54,900
net (and gross) acres located primarily in Southeast Fayette and Northwest Lavaca Counties, Texas where the company
has 100% working interest; and
Maverick: approximately 26,400 net acres (33,100 gross acres), located in southern Zavala
and Frio Counties, Texas where the company has an average 80% working interest
The Barnhart #5H, located in the
company's Palmetto area in Gonzalez County, was drilled to a measured depth of 17,122 feet (lateral length of 5,991 feet),
was fracked with 17 stages and placed on production December 2, 2011. Average production for the first 30 days was 1,318
BOE per day on a 14/64 restricted choke. The company has a 50% working interest in this well.
The Barnhart #6H,
also in the Palmetto area, was drilled to a measured depth of 17,719 feet (lateral length of 5,998 feet), was fracked with
18 stages and placed on production December 2, 2011. Average production for the first 30 days was 1,235 BOE per day
on a 14/64 restricted choke. The company has a 50% working interest in this well.
Magnum Hunter Resources (MHR) - Magnum Hunter Resources (MHR) Eagle Ford Shale Update
Eagle Ford Acreage:
24,000 net acres
- 100% in the oil window
- 18,712 net acres in Gonzales
amd Lavaca Counties
- 2,065 net acres in Fayette and Lee Counties
- 3,223 net acres in Atascosa County
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