Eagle Ford Shale

Anadarko Petroleum Updates 2011 Eagle Ford Shale Drilling

Anadarko Petroleum (APC) updated investors on its planned drilling in the Eagle Ford Shale for 2011.

Anadarko Petroleum recently increased its average estimated ultimate recovery (EUR) on wells in the Eagle Ford Shale to 450,000 barrels of oil equivalent (BOE) each.  The company plans to drill 200 wells here in 2011, double the level of drilling in 2010.

Conoco Phillips To Increase Eagle Ford Shale Development In 2011

Conoco Phillips (COP) announced a $12 billion upstream capital budget for 2011, and will spend $1.4 billion to develop the Eagle Ford Shale in Texas.  The company has 220,000 net acres under lease and plans to drill 144 wells here during the year.

Conoco Phillips recently reported the average production during the first thirty days on five wells drilled into the Eagle Ford Shale.

The Esse 1 produced 1,169 barrels of oil equivalent (BOE) per day, consisting of 1,012 barrels of liquids per day and 157 BOE per day of wet gas.

The Joahannes Unit #1 produced 1,086 BOE per day, consisting of 937 barrels of liquids per day and 149 BOE per day of wet gas.

The Schulte Prospect #1 produced 1,521 BOE per day, consisting of 1,210 barrels of liquids per day and 311 BOE per day of wet gas.

The Kennedy #1 produced 1,647 BOE per day, consisting of 1,254 barrels of liquids per day and 393 BOE per day of wet gas.

The Schendel A produced 1,001 BOE per day, consisting of 835 barrels of liquids per day and 166BOE per day of wet gas.

Swift Energy Updates Data On Wells In Oil Window Of Eagle Ford Shale

Swift Energy (SFY) held an analyst meeting for the investment community and released updated information on its operations in the Eagle Ford Shale.  The company has 75,000 net acres under lease in the play, including 20,000 net acres in the oil window.

Swift Energy said that the average Eagle Ford Shale well in the oil window produces 77% oil, 16% dry gas and 7% natural gas liquids. The company is using two different models for wells drilled into the Eagle Ford Shale based on a lateral length of 4,000 feet or 6,000 feet. 

Swift Energy said that the average well with a 6,000 foot lateral costs $9 million, and has an initial production rate of 1,286 barrels of oil and 1.714 million cubic feet of natural gas per day.  The estimated ultimate recovery (EUR) of these wells is 286,000 barrels of oil and 410 million cubic feet of natural gas.

Swift Energy said that wells with a 4,000 foot lateral cost an average of $7 million, and has an initial production rate of 900 barrels of oil and 1.2 million cubic feet of natural gas per day.  The EUR of these wells is 200,000 barrels of oil and 310 million cubic feet of natural gas.

Swift Energy plans to drill 26 wells into the Eagle Ford Shale over the next three years, with 2 wells in 2011, 11 in 2012 and 13 in 2013.