Eagle Ford Shale

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.

Penn Virginia Reports Eagle Ford Shale Well Completions

Penn Virginia Corporation (PVA) updated the company’s activity in developing the Eagle Ford Shale in Texas.  The company has six producing wells, is drilling three more and has three wells waiting on completion.

Penn Virginia Corporation said that the six wells that are on line are producing a combined total of 4,096 barrels of oil per day and 2.07 million cubic feet of natural gas.  The company said that these wells also yield 150 barrels of natural gas liquids for every million cubic feet of natural gas production.

Penn Virginia Corporation said that the Gardner #1-H well had a peak 24 hour production rate of 1,250 barrels of oil equivalent (BOE) and is currently producing 350 barrels of oil and 240,000 cubic feet of natural gas per day. This was the company’s first well into the Eagle Ford Shale and it has produced a cumulative 68,000 barrels of oil in 129 days.

Penn Virginia Corporation reported the name and peak 24 hour production rates on the other five producing Eagle Ford Shale wells:

Hawn Holt #1-H – 726 BOE, 650 barrels of oil per day

Hawn Holt #2-H – 986 BOE, 869 barrels of oil per day

Hawn Holt #4-H – 560 BOE, 514 barrels of oil per day

Hawn Holt #6-H – 711 BOE, 670 barrels of oil per day

Hawn Holt #9-H – 1,876 BOE, 1,652 barrels of oil per day

The Hawn Holt #1-H and Hawn Holt #4-H wells saw subsequent increases in peak rates to 830 and 582 BOE per day, respectively.

Newfield Exploration Company Updates Eagle Ford Shale Activities

Newfield Exploration Company (NFX) issued a detailed operational update on its oil and gas activities and disclosed additional information on its activities in the Eagle Ford Shale in Texas.

Newfield Exploration Company drilled eleven wells into the Eagle Ford Shale in 2010 to assess the potential of its acreage.  The company has concluded that almost all of its Maverick Basin acreage is in the oil window of the Eagle Ford Shale.

Newfield Exploration Company released the following operating statistics on six of its Eagle Ford Shale wells:

24 hour peak gross production – range of 400 to 600 barrels of oil equivalent (BOE) per day. Average peak gross production - 630 BOE per day.

Thirty day gross production – 400 BOE per day.

Estimated ultimate recovery – range of 200,000 to 400,000 BOE.

Newfield Exploration Company has 335,000 net acres prospective for the Eagle Ford Shale and plans to operate 2 to 3 rigs in the play in 2011.  The company may also increase activity in the second half of 2011.