Eagle Ford Shale

SM Energy Reports Eagle Ford Shale 2011 Capital Budget

SM Energy (SM) announced that the company will spend $830 million in drilling capital in 2011 on its various properties in the United States.  The company will spend $500 million or 60% of these funds to develop properties in Texas that are prospective for the Eagle Ford Shale. 

SM Energy has 165,000 net acres in Webb and LaSalle Counties in Texas and plans to operate two rigs on this acreage starting in January 2011 and eventually increase to four operated rigs.  The company will target acreage that have wet gas and condensate and focus on the Briscoe and Galvan Ranch areas.

SM Energy is also involved in a joint venture with Anadarko Petroleum (APC) on a 84,500 net acre portion of the Eagle Ford Shale.  Anadarko Petroleum is operating seven rigs in this joint venture and will average ten operated rigs in 2011.

Goodrich Petroleum Reports Completion Of Burns Ranch A 1H Well In Eagle Ford Shale

Goodrich Petroleum (GDP) reported the completion of a well on its acreage in Texas that is prospective for the Eagle Ford Shale.

Goodrich Petroleum said that the Burns Ranch A 1H well produced at a 24 hour rate of 1,010 barrels of oil equivalent (BOE) per day, comprised of 930 barrels of oil per day and 480,000 cubic feet of natural gas per day.

Goodrich Petroleum said that the Burns Ranch A 1H well was drilled with a 5,900 foot lateral and completed with a 20 stage hydraulic fracturing operation.   The Burns Ranch A 1H well is located in LaSalle County, Texas.

Goodrich Petroleum has finished drilling the Pan Am C-1H well and is currently completing that well.  The company has also finished drilling the Burns Ranch 4H well and will start completion operations on this Eagle Ford Shale well shortly.

Carrizo Oil and Gas Reports Pierce 10-H Well - Eagle Ford Shale Completion

Carrizo Oil and Gas (CRZO) reported the completion of a horizontal well drilled into the Eagle Ford Shale on the company’s acreage in La Salle County, Texas. This was the company’s third horizontal well reported in the Eagle Ford Shale.

The Pierce 10H well produced 1,035 barrels of oil and 3,085 thousand cubic feet per day of natural gas.  The company said that this Eagle Ford Shale well had a high BTU liquids content.