Eagle Ford Shale

Pioneer Natural Resources Reports Eagle Ford Shale Completion

Pioneer Natural Resources Company (PXD) announced the completion of a well drilled to the Eagle Ford Shale in Texas. The Robert Crawley Gas Unit #1 well is located in Live Oak County, and had an initial production rate of 17 million cubic feet per day of natural gas. The well was drilled to a depth of 17,000 feet and completed with a 16 stage hydraulic fracturing operation in a 5400-foot lateral.

Pioneer Natural Resources is looking for a joint venture partner to develop its Eagle Ford Shale acreage. The company is currently operating two rigs in the Eagle Ford Shale and will be targeting wells in DeWitt and Karnes Counties.

Murphy Oil Reports Eagle Ford Shale Well

Murphy Oil (MUR) reported the completion of its first horizontal well in the Eagle Ford Shale. The well was located in McMullen County, Texas.

The George Miles #1H well had an initial production rate of 7.5 million cubic feet of natural gas per day. This Eagle Ford Shale well was drilled to a depth of 13,320 feet and then completed with a lateral of 3,190 feet and a 13 stage hydraulic fracturing operation. Murphy Oil is currently drilling a second horizontal well in Karnes County.

Murphy Oil is at an early stage of its development of the Eagle Ford Shale. The company has a three well evaluation program underway and has not disclosed its acreage position, only calling it “meaningful.”

St. Mary Land And Exploration Company Announces Eagle Ford Shale Budget For 2010

St. Mary Land & Exploration Company (SM) announced a capital budget of $725 million for 2010, with an exploration and drilling budget set at $561 million or 77% of the total. The company said that 40% of the upstream budget would be directed into the Eagle Ford Shale in 2010.

St. Mary Land & Exploration Company’s has allocated $216 million in 2010 to develop its acreage in the Eagle Ford Shale in South Texas. The company intends on operating two drilling rigs in the Eagle Ford Shale on its acreage located in Webb, Dimmitt, and La Salle Counties. St. Mary Land & Exploration Company will drill 34 gross operated wells in these areas in 2010.

St. Mary Land & Exploration Company is also involved with a joint venture with Anadarko Petroleum (APC) to develop acreage in the North of the play where there are a higher concentration of liquids in the wells. The company has allocated $47 million in capital here in 2010.