Eagle Ford Shale

El Paso - Eagle Ford Shale Update

El Paso (EP) has 170,000 net acres in Texas that are prospective for the Eagle Ford Shale.  The properties are located in various areas, including Frio, Atascosa, Dimmit, La Salle and Webb Counties.

El Paso splits its leasehold into three separate areas based on location and whether it produces primarily oil or natural gas.

Dry Gas – 65,000 net acres

Central Oil – 74,000 net acres

North Oil – 31,000 net acres

El Paso had nine operated producing Eagle Ford shale wells and 1,145 future drilling locations on its acreage as of 12/31/2010. 

El Paso estimates that it has proven undeveloped reserves in the Eagle Ford Shale of 25 million barrels of oil equivalent (BOE).  The company also estimates that the acreage holds 550 million BOE of unrisked resource potential and 395 million BOE of risked resource potential.

El Paso Updates Eagle Ford Shale Operations For 2010

El Paso (EP) issued an operational update on its activities in the Eagle Ford Shale, where the company has 170,000 net acres under lease.  The company has 65,000 net acres in the dry gas portion of the play, and 105,000 net acres in the oil window of the Eagle Ford Shale.

El Paso has 9 producing wells, and reported net production of 2,300 barrels of oil equivalent (BOE) per day at the end of 2010.  The company has another 11 wells that have been drilled and are waiting on completion, and estimates that it has another 1,145 drilling locations on its Eagle Ford Shale acreage. 

El Paso proven undeveloped reserves of 25 million BOE in the Eagle Ford Shale at the end of 2010, and estimates its risked and unrisked resource potential at 395 million BOE and 550 million BOE, respectively.

Chesapeake Energy Issues Eagle Ford Shale Operational Update

Chesapeake Energy Corporation (CHK) issued an operational update for the first quarter of 2010. The company provided commentary on its activities in the Eagle Ford Shale.

Chesapeake Energy has increased its acreage position in the Eagle Ford Shale to 400,000 net acres. The company has completed 3 gross wells to date, and estimates that it will average 4 rigs during 2010 to dill 40 net wells.

Chesapeake Energy has almost no proved reserves on its Eagle Ford Shale acreage because it is just beginning its development program here. The company estimates its resources here as follows:

Risked unproved resources – 2 Tcfe or 370 million barrels oil equivalent.

Unrisked unproved resources - 11 Tcfe or 1.8 billion barrels oil equivalent.