Eagle Ford Shale

Anadarko Petroleum Sets Records In Eagle Ford Shale In Second Quarter Of 2011

Anadarko Petroleum (APC) issued an update on its operations in Texas during the second quarter of 2011, where the company is working on the Eagle Ford Shale formation.

Anadarko Petroleum closed on the company’s Eagle Ford Shale joint venture deal with the Korea National Oil Corporation, under which the company can earn up to a 33% interest in Anadarko Petroleum’s leasehold here.

Anadarko Petroleum reported that the company had gross production of 45,000 barrels of oil equivalent (BOE) per day from the Eagle Ford Shale as of 6/30/2011.  This was a 25% increase from 3/31/2011.

Anadarko Petroleum was operating ten rigs at the end of the second quarter of 2011 and spud sixty wells.  The company also drilled an 8,340 foot lateral on an Eagle Ford Shale well, and drilled a well in a record time of 8.3 days.

EOG Resources Reports Sixteen Eagle Ford Shale Well Completions

EOG Resources (EOG) reported an update on its efforts to develop the Eagle Ford Shale in Texas during the second quarter of 2011.  The company has 610,000 net acres under lease, with most of the leasehold in the oil window of the play.

Gonzalez County

EOG Resources reported the King Fehner Unit #2H, King Fehner Unit #4H, King Fehner Unit #5H and King Fehner Unit #6H wells.  The initial production rates ranged from 1,238 to 1,487 barrels of oil per day, with 1.2 to 1.6 million cubic feet per day of natural gas.  These wells tested down spacing of the company’s acreage.

Merritt #4H - peak initial production rate of 1,361 barrels of oil per day with 600,000 cubic feet of natural gas.

The Steen Unit #1H, Steen Unit #2H, Steen Unit #4H and Steen Unit #6H had production rates ranging from 663 to 1,269 barrels of oil per day, along with 700,000 to 1.4 million cubic feet of natural gas per day.

Hill Unit #1H – peak flow rate of 1,461 barrels of oil and one million cubic feet of natural gas per day.

Hill Unit #3H - peak flow rate of and 1,734 barrels of oil and 1.3 million cubic feet of natural gas per day.

LaSalle County

The Naylor Jones A #2H, Naylor Jones A 99 #1H and Naylor Jones A 96 #1H had production rates ranging from 997 to 1,153 barrels of oil per day along with 1 million to 2.3 million cubic feet of natural gas per day.

Karnes County

Max Unit #1H - peak initial production rate of 1,591 barrels of oil and1.5 million cubic feet of natural gas per day.

Braune Unit #1H - initial rate of 1,611 barrels of oil and 1 million cubic feet of natural gas per day.

Rosetta Resources Increases EUR Of Eagle Ford Shale Wells In Gates Ranch Area

Rosetta Resources (ROSE) reported an update on the development of the Eagle Ford Shale during the second quarter of 2011. 

Rosetta Resources increased the gross estimated ultimate recovery (EUR) of Eagle Ford Shale wells in the Gates Ranch area to 10 Bcfe, from 7.2 Bcfe previously.  This increase is based on up to two years of performance in some areas, according to the company.

Rosetta Resources estimates that each Eagle Ford Shale well in the Gates Ranch area has a pretax net present value of $20 million.

Rosetta Resources reported average production of 129 million cubic feet of natural gas equivalents per day in the second quarter of 2011, up from 89 million cubic feet of natural gas equivalents per day in the previous quarter.  This represented sequential growth of 45% and Eagle Ford Shale production is now 80% of the company’s total production.

Rosetta Resources has completed forty horizontal wells into the Eagle Ford Shale as of 6/30/2011, and is currently operating three rigs in the play. The company plans to drill between 25 and 28 additional Eagle Ford Shale wells in 2011

Rosetta Resources recently started two pilot infill drilling programs at the Gates Ranch area to test fifty acre down spacing.  The first pilot program has been drilled and the company expects the wells to be completed by the end of 2011.