Eagle Ford Shale

Rosetta Resources Moves Forward On Eagle Ford Shale Program During First Quarter Of 2011

Rosetta Resources (ROSE) reported on its Eagle Ford Shale development activity during the first quarter of 2011.  The company is putting 90% of its 2011 capital budget into the Eagle Ford Shale and plans to drill forty wells here in 2011.

Rosetta Resources completed nine wells, and reported production of 89 million cubic feet of natural gas equivalents per day during the first quarter of 2011.  As of 5/1/2011, production from the Eagle Ford Shale was 120 million cubic feet of natural gas equivalents per day.

Rosetta Resources has completed 31 wells since entering the play and is operating three rigs.  The company is planning to drill between ten and twelve horizontal wells during the second quarter of 2011.

Rosetta Resources Updates Eagle Ford Shale Operations For 2011

Rosetta Resources (ROSE) updated investors on its 2011 development plan for its properties in Texas that are prospective for the Eagle Ford Shale.  The company plans to spend more than 90% of its $360 million capital budget in this area in 2011.

Rosetta Resources plans to drill forty wells in the Eagle Ford Shale in 2011 and has contracts in place for hydraulic fracturing services as well as processing and transportation of production from these wells.

Rosetta Resources exited 2010 with production of 86 million cubic feet of natural gas equivalents per day, with approximately 50% of this production composed of oil, condensate and natural gas liquids. 

Rosetta Resources has 26,500 net acres under lease in the Gates Ranch project area in Texas and raised the gross estimated ultimate recovery (EUR) rates on wells here to 7.2 billion cubic feet equivalent.  The company estimates the before income tax net present value for each well at $13.4 million. 

Rosetta Resources Details 2011 Eagle Ford Shale Budget

Rosetta Resources (ROSE) announced a $360 million capital budget for 2011, including $325 million in spending directed toward the development of the Eagle Ford Shale in Texas.

Rosetta Resources will use this capital to drill forty Eagle Ford Shale wells in 2011, compared to 29 in 2010. The company will focus its development efforts mainly at the Gates Ranch property.

Rosetta Resources has 21 Eagle Ford Shale wells currently on production.  The company exited 2010 with net production from the Eagle Ford Shale of 86 million cubic feet of natural gas equivalents per day.  This production was composed of 3,100 barrels of oil, 3,900 barrels of natural gas liquids and 44 million cubic feet of natural gas per day.