Eagle Ford Shale

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.

Conoco Phillips Issues Eagle Ford Shale Update For Fourth Quarter Of 2010

Conoco Phillips (COP) has 240,000 net acres prospective for the Eagle Ford Shale, and is targeting production of 65,000 barrels of oil equivalent (BOE) per day by 2013 with most of this production from oil and liquids.

Conoco Phillips released the following 30 day average production rates for recent wells into the Eagle Ford Shale. 

Livingston #1 – 6.66 million cubic feet per day of natural gas equivalents, composed of 2.8 million cubic feet per day of natural gas and 643 barrels per day of condensate.

Dobie Ranch #1 – 10.66 million cubic feet per day of natural gas equivalents, composed of 5.8 million cubic feet per day of natural gas and 808 barrels per day of condensate.

Eskew East #1 – 9.3 million cubic feet per day of natural gas equivalents composed of 5.3 million cubic feet per day of natural gas and 667 barrels per day of condensate.

Plomero #3 – 7.8 million cubic feet per day of natural gas equivalents, composed of 2.7 million cubic feet per day of natural gas and 850 barrels per day of condensate.

F Malek #1 – 9.7 million cubic feet per day of natural gas equivalents, composed of 3.2 million cubic feet per day of natural gas and 1,129 barrels per day of condensate.

Conoco Phillips - Q4 2010 Conference Call - Eagle Ford Shale Comments

Conoco Phillips (COP) reported earnings for the fourth quarter of 2010 and held a conference call with analysts and investors to discuss the results.  The company disclosed additional data on its operations in the Eagle Ford Shale in Texas, where the company is pursuing development in the liquids area of the play.

 “But we continue to operate at an elevated development activity in the liquids-rich plays of Eagle Ford Shale. At Eagle Ford, we're currently running 12 rigs in the play, and we expect increase that to 13 rigs in the near future. We also have three dedicated completion crews working in the play.”

“We have very aggressive development programs going on in the Eagle Ford in particular. The Eagle Ford, as we mentioned earlier, we're running 12 rigs now. That's probably going up to 13.”

“Current Eagle Ford Shale production is around the eight or so thousand a day. And that will just continue to ramp up over time as we execute this drilling program we've talked about to where we would think over in three years time will be a 65,000 barrels a day.”

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