Eagle Ford Shale

Conoco Phillips Ramps Up Eagle Ford Shale Development

Conoco Phillips (COP) made comments on the Eagle Ford Shale during the company’s second quarter of 2010 conference call. The company has started to develop the Eagle Ford Shale and has 240,000 net acres under lease.

“At Eagle Ford, we've been encouraged by our recent well results, continue to look for ways to optimize our operations. Year-to-date, we've drilled 13 and completed seven wells at Eagle Ford and are optimistic about this deal’s potential to support future production and returns growth. We’ve got six rigs drilling in the area, plan to have as many as 12 by year end, in current production of about 7,000 BOE per day.”

“Looking at Eagle Ford, we're seeing of the 13 wells we’ve drilled and the seven we've completed, we're seeing IP rates anywhere in the range of, let's say, between 1,500 to 2,500 BOE per day.”

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Newfield Exploration - Eagle Ford Shale - Conference Call Comments

Newfield Exploration Company (NFX) held a conference call on July 23, 2010, to discuss the company’s earnings for the second quarter of 2010. The company made operational comments on some of its major oil and gas plays, including the Eagle Ford Shale.

Newfield Exploration Company has 300,000 net acres under lease and just reached total depth on its third Eagle Ford Shale well. The company is starting completion operations on the first two wells and will have results soon.

“We have more than 300,000 net acres in the highly perspective Eagle Ford and Pearsall Shale plays and are investing about a $100 million this year thoroughly assess our acreage.”

“We are now running five operated rigs in the Maverick Basin and expect to drill about 15 wells in the second half of this year. Nine of these wells will be targeted at the Eagle Ford Shale.”

“We’ve drilled two wells to date, about to TD a third. First well was a 5,000-foot lateral in the lower Eagle Ford oil window in the northern portion of our acreage. Second was also a 5,000-foot lateral in the wet gas window in the southern portion of our acreage.”

Source: Seeking Alpha

Cabot Oil And Gas - Eagle Ford Shale - Conference Call Comments

Cabot Oil and Gas (COG) reported its earnings for the second quarter of 2010 and held a conference call on July 22, 2010, to discuss the results. The company is active in several major shale plays including the Eagle Ford Shale, where it just entered into a joint venture with EOG Resources (EOG).

“In the Eagle Ford, South Texas, the Company has drilled its second horizontal Eagle Ford oil well… The well is scheduled to be stimulated in late August. The rig is moving to a third location with drilling anticipated to begin next week on that third well.”

“Cabot holds about 52,000 net acres in the oil window of the play with 300 – 350 potential locations and a large resource potential also. Also in the oil window, but approximately 40 miles east of the well we just drilled, Cabot has entered into approximately 18,000 acre area of mutual interest with EOG.”

“Each company contributed 50% of the acreage in the JV with EOG as operator. Drilling is anticipated to begin in the fourth quarter of this year following the acquisition of a new 3D seismic shoot.”

Source: Seeking Alpha