El Paso (EP) issued an operational update on its activities in the Eagle Ford Shale, where the company has 170,000 net acres under lease. The company has 65,000 net acres in the dry gas portion of the play, and 105,000 net acres in the oil window of the Eagle Ford Shale.
El Paso has 9 producing wells, and reported net production of 2,300 barrels of oil equivalent (BOE) per day at the end of 2010. The company has another 11 wells that have been drilled and are waiting on completion, and estimates that it has another 1,145 drilling locations on its Eagle Ford Shale acreage.
El Paso proven undeveloped reserves of 25 million BOE in the Eagle Ford Shale at the end of 2010, and estimates its risked and unrisked resource potential at 395 million BOE and 550 million BOE, respectively.
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