EOG Resources (EOG) reported earnings for the first quarter of 2010, and held an earnings conference call to discuss the results. The company made comments on its activities in the Eagle Ford Shale in Texas.
EOG Resources has completed its 17th well into the Eagle Ford Shale, and is slowing down its drilling program so that the company can analyze the seismic data that has been taken.
“Most of our wells today have targeted the lower Eagle Ford, which is a bit thicker, at least on our acreage than the upper Eagle Ford. But we do recognize that the upper Eagle Ford potentially may be a target, perhaps even a separate target, in terms of things. But you can pretty well mark that the vast the majority of our wells, so far, have been lower Eagle Ford completions.”
“In the Eagle Ford, we've completed our 17th oil well, the Harper #4H, which IP'd at 602 barrels of oil per day with 650 Mcf of gas per day. Not only we delineated our 120-mile Eagle Ford acreage, we're going to moderate our drilling activity for a few months until we have our 3D seismic shock and interpret it.”
“And then the concept of what we like to do in any of these plays is pick the sweetest part of a certain zone, for example in the Eagle Ford, there's probably a 20, 30-foot section that we consider the sweetest part of the Eagle Ford. And we want to keep the lateral in there for the whole length and that's pretty hard to do without 3D seismic. So our view is that once we get the 3D seismic shot interpreted, then we can go back and start a pretty intensive drilling program.”
Source: Seeking Alpha
Cabot Oil and Gas - Eagle Ford Shale Conference Call Comments
Cabot Oil and Gas (COG) held a conference call on October 26, 2010, to discuss the company’s earnings report for the third quarter of 2010. The company made comments on its operations in the Eagle Ford Shale, where it has operated acreage and is also in a joint venture with EOG Resources (EOG).
“The Company successfully completed its third Eagle Ford well, the Arminius Energy Trust #2H, which is a 100% operated Cabot well. Located in Frio County, it was drilled to a total depth of 13,175 with a 4,325 foot lateral and is cleaning up, and hit a peak rate of over 600 barrels equivalent yesterday. This well is located in our Buckhorn area.’
“The fourth Company-operated well, the Cromwell Ranch 1H, another 100% Cabot well located in La Salle County, was drilled with a lateral length of 6,000 feet and is scheduled for completion in the next couple of weeks.”
“Additionally, additional drilling in the prospect area is scheduled for later this quarter. Cabot holds approximately 53,000 net acres in the oil window of the play and has over 300 net potential locations.”
“Also in the Eagle Ford oil trend, drilling on our 18,000 acre area of mutual interest with EOG is scheduled to begin by year-end. Each company, as you might be aware, contributed 50% of the acreage in the JV with the operator EOG. The current plan is to keep at least one rig active in the JV area throughout 2011. With our South Region capital being allocated between our operated Buckhorn area and the EOG JV, we anticipate potentially doubling our oil volumes in 2011 from 2010.”
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Posted at 05:34 AM in Acreage, Area of Mutual Interest, Arminius Energy Trust #1, Buckhorn, Cabot Oil And Gas, Company News, Conference Call, Cromwell Ranch 1H, Drilling Locations, EOG Resources, Frio County, Initial Production, LaSalle County, Lateral Length, Management Comments, Net Acres, Oil, Oil Window, Production, Texas, Well Results, Working Interest | Permalink | Comments (0) | TrackBack (0)
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