Eagle Ford Shale

Magnum Hunter Resources Issues Update On Eagle Ford Shale Operations

Magnum Hunter Resources (MHR) issued an operational update on the Eagle Ford Shale play in Texas.  The company has approximately 51,664 gross acres prospective for this formation in Texas.

Magnum Hunter Resources reported that the Furrh #2H well produced at an initial rate of 1,270 barrels of oil equivalent (BOE) per day.  The Furrh #2H well was drilled with a lateral of 5,945 feet and completed with a twenty stage hydraulic fracturing operation.

Magnum Hunter Resources reported that the Kudu Hunter #1H well produced at an initial rate of 1,590 BOE per day.  The Kudu Hunter #1H well was drilled with a lateral of 5,751 feet and completed with a twenty stage hydraulic fracturing operation.

Magnum Hunter Resources has ten other Eagle Ford Shale wells in various stages of drilling or completion.  These wells include the Snipe Hunter #1H, Hawg Hunter #1H, Leopard Hunter #1H, JP Ranch #1H, Gonzo North #2H, Southern Hunter #2H, Shiner Ranch #1H, Oryx Hunter #2H, Hippo Hunter #1H and Leopard Hunter.        

The company plans to spend $75 million in capital in the Eagle Ford Shale in fiscal 2011.  This budget will cover 16 gross or 8.4 net wells.

Magnum Hunter Resources is currently producing 9,500 BOE per day and expects to reach production of 10,000 BOE per day by the end of 2011.

Crimson Exploration Updates Eagle Ford Shale Activity

Crimson Exploration (CXPO) issued an operational update on the company’s development of the Eagle Ford Shale in Texas.  The company has approved increasing the 2011 capital budget directed towards this play to $78 million, a 30% increase over the previous level.

Zavala County

The KM Ranch #1H well is currently flowing back and the company expects to have results to report in mid August 2011.  The KM Ranch #1H Eagle Ford Shale well was drilled and completed with a 5,800 foot lateral and twenty stages of hydraulic fracturing stimulation.

Crimson Exploration has 2,300 net acres and 147 Eagle Ford Shale drilling location in Zavala County.  The company plans to spud the KM Ranch #2H well in November 2011.  

Karnes County

Crimson Exploration has spud the Littlepage McBride #2H well and expects to begin completion operations in the third quarter of 2011 and report initial production results in September 2011.  

The Littlepage McBride #2H Eagle Ford Shale well is near the Littlepage McBride #1H well, which is currently producing 525 barrels of oil equivalent (BOE) per day and has produced a cumulative 53,000 BOE since starting production.

Forest Oil Updates Eagle Ford Shale Operations For Second Quarter Of 2011

Forest Oil (FST) issued an update for the second quarter of 2011 on its development operations of the Eagle Ford Shale in Texas. The company increased its leasehold in the play to 113,000 net acres despite the divestiture of 10,000 net acres in Wilson County. 

Forest Oil reported the production results of four Eagle Ford Shale wells with average initial production rates during the first 24 hours of 747 barrels of oil equivalent (BOE).

Forest Oil also increased its capital budget allocated to the Eagle Ford Shale by $120 million for the second half of 2011 as the company seeks to accelerate its oil development activity.