Rosetta Resources Inc. (ROSE) held its third quarter conference call on November 9, 2009, and discussed its operations in the Eagle Ford Shale in Texas. The company is expanding its development of the Eagle Ford Shale, and will decrease the spacing of its frac stages to stimulate more production. Rosetta Resources now has 47,000 net acres in the Eagle Ford Shale located primarily on the Springer and Gates ranch area.
2010 Capital Budget
“We expect to substantially increase our capital program in 2010, compared to 2009. I'm also comfortable saying that a significant portion of our 2010 capital will likely be directed toward our Eagle Ford programs.”
Eagle Ford Shale Frac Stages
“On the Santa Cruz well is that, we will test, increasing the density of our frac stages from roughly 400 feet apart down to roughly 300 feet apart. By doing this, we will better understand rock characteristics and fluid flow, which will help us continually optimize the development of our leasehold.”
Gates Ranch 5D-9H Well
“Well has been successfully drilled horizontally to a total measured depth of 12,400 feet, with a lateral length of approximately 3,700 feet. The well was completed using a 10-stage frac and was first delivered to sale on October 6 of this year.”
“The well was producing on a 24/64 inch choke at a rate of 3.5 million cubic feet of gas per day and 337 barrels of condensate per day. If you do the math, the condensate yield calculates out to roughly 90 barrels per million cubic feet, which is one, if not the highest, condensate yields in the area.”
Source: Seeking Alpha
Comments