Penn Virginia Corporation (PVA) updated the company’s activity in developing the Eagle Ford Shale in Texas. The company has six producing wells, is drilling three more and has three wells waiting on completion.
Penn Virginia Corporation said that the six wells that are on line are producing a combined total of 4,096 barrels of oil per day and 2.07 million cubic feet of natural gas. The company said that these wells also yield 150 barrels of natural gas liquids for every million cubic feet of natural gas production.
Penn Virginia Corporation said that the Gardner #1-H well had a peak 24 hour production rate of 1,250 barrels of oil equivalent (BOE) and is currently producing 350 barrels of oil and 240,000 cubic feet of natural gas per day. This was the company’s first well into the Eagle Ford Shale and it has produced a cumulative 68,000 barrels of oil in 129 days.
Penn Virginia Corporation reported the name and peak 24 hour production rates on the other five producing Eagle Ford Shale wells:
Hawn Holt #1-H – 726 BOE, 650 barrels of oil per day
Hawn Holt #2-H – 986 BOE, 869 barrels of oil per day
Hawn Holt #4-H – 560 BOE, 514 barrels of oil per day
Hawn Holt #6-H – 711 BOE, 670 barrels of oil per day
Hawn Holt #9-H – 1,876 BOE, 1,652 barrels of oil per day
The Hawn Holt #1-H and Hawn Holt #4-H wells saw subsequent increases in peak rates to 830 and 582 BOE per day, respectively.