Eagle Ford Shale

Plains Exploration and Production Reports Two Eagle Ford Shale Completions

Plains Exploration and Production (PXP) reported an update on its development operations in the Eagle Ford Shale, including production data on two recent wells here.

Plains Exploration and Production is currently operating four rigs in the Eagle Ford Shale and will operate between four and six rigs during 2011. The company has ten wells waiting on completion or connection to pipe. 

Plains Exploration and Production said that sales volume from the Eagle Ford Shale will be in excess of 2,500 barrels of oil equivalent (BOE) per day at the end of the first quarter of 2011, and 5,000 BOE per day by the end of 2011.

Plains Exploration and Production reported the completion of the Julie 1H well with an initial production rate of 990 barrels of oil per day and 826,000 cubic feet per day of natural gas.

Plains Exploration and Production reported the completion of the Julie 2H well with an initial production rate of 920 barrels of oil per day and 756,000 cubic feet per day of natural gas.

Plains Exploration and Production Company Updates Eagle Ford Shale Activities For Fourth Quarter Of 2010

Plains Exploration and Production Company (PXP) issued an operational update on its acreage in Texas that is prospective for the Eagle Ford Shale formation. 

Plains Exploration and Production Company is currently operating four rigs on its properties and has twelve wells waiting on completion or pipeline.  The company reported current sales volume of 1,800 barrels of oil per day, and expects to reach 2,500 barrels of oil per day by the end of the first quarter of 2011, and 5,000 barrels of oil per day by the end of 2011.

Plains Exploration And Production Increases Eagle Ford Shale Position

Plains Exploration and Production (PXP) announced that the company has entered into an agreement to acquire 60,000 net acres in Texas for $578 million. The acreage is prospective for the Eagle Ford Shale.

Plains Exploration and Production said that the acreage is located mostly in Karnes County. The company said that 20,400 acres of the total are located in a joint venture with EOG Resources (EOG).

Plains Exploration and Production said that the acreage has a net resource potential of between 140 million and 175 million barrels of oil equivalent (BOE). The company expects to exit 2011 with a net production rate of 5,000 BOE per day from the newly acquired acreage in the Eagle Ford Shale.