Eagle Ford Shale

Comstock Resources Reports Five Eagle Ford Shale Completions

Comstock Resources (CRK) updated the company’s development program targeting the Eagle Ford Shale in Texas.  The company recently completed five wells on the Hill lease in McMullen County, Texas. 

Comstock Resources reported the names and initial production rates of these wells in barrels of oil equivalent (BOE).

Hill #2H – 801 BOE per day, composed of 651 barrels of oil and 900,000 cubic feet of natural gas per day.

Hill #3H - 985 BOE per day, composed of 801 barrels of oil and 1.1 million cubic feet of natural gas per day.

Hill #4H - 890 BOE per day, composed of 715 barrels of oil and one million cubic feet of natural gas per day.

Hill "A" #1H – 1,120 BOE per day, composed of 926 barrels of oil and 1.2 million cubic feet of natural gas per day.

Hill "A" #2H – 1,048 BOE per day, composed of 954 barrels of oil and 600,000 cubic feet of natural gas per day.

Comstock Resources has allocated $207.3 million in capital in 2012 to develop the Eagle Ford Shale. These funds will cover drilling 32 gross or 28.9 net wells during the year.  The company will spend another $14.5 million to complete six gross or 5.6 net wells drilled in 2012.

Magnum Hunter Resources Issues Update On Eagle Ford Shale Operations

Magnum Hunter Resources (MHR) issued an operational update on the Eagle Ford Shale play in Texas.  The company has approximately 51,664 gross acres prospective for this formation in Texas.

Magnum Hunter Resources reported that the Furrh #2H well produced at an initial rate of 1,270 barrels of oil equivalent (BOE) per day.  The Furrh #2H well was drilled with a lateral of 5,945 feet and completed with a twenty stage hydraulic fracturing operation.

Magnum Hunter Resources reported that the Kudu Hunter #1H well produced at an initial rate of 1,590 BOE per day.  The Kudu Hunter #1H well was drilled with a lateral of 5,751 feet and completed with a twenty stage hydraulic fracturing operation.

Magnum Hunter Resources has ten other Eagle Ford Shale wells in various stages of drilling or completion.  These wells include the Snipe Hunter #1H, Hawg Hunter #1H, Leopard Hunter #1H, JP Ranch #1H, Gonzo North #2H, Southern Hunter #2H, Shiner Ranch #1H, Oryx Hunter #2H, Hippo Hunter #1H and Leopard Hunter.        

The company plans to spend $75 million in capital in the Eagle Ford Shale in fiscal 2011.  This budget will cover 16 gross or 8.4 net wells.

Magnum Hunter Resources is currently producing 9,500 BOE per day and expects to reach production of 10,000 BOE per day by the end of 2011.

EOG Resources Reports Karnes And LaSalle Counties Eagle Ford Shale Wells

EOG Resources (EOG) is active in developing the Eagle Ford Shale in Karnes and LaSalle Counties in Texas and released the results of several wells recently completed and put onto production.

Karnes County

Deleon-Reinhard Unit #1H – 2,235 barrels of oil and 1.2 million cubic feet of natural gas per day.

Deleon-Wiatrek Unit #1H – 2,161 barrels of oil and 1.7 million cubic feet of natural gas per day.

AFO Unit #1H – 2,289 barrels of oil per day.

AFO Unit #2H – 1,700 barrels of oil per day.

AFO Unit #3H – 1,548 barrels of oil per day.

The three AFO Unit wells produced from 1.2 million to 1.6 million cubic feet of natural gas per day.

La Salle County

Naylor Jones A #6H – 1,582 barrels of oil and 1.5 million cubic feet of natural gas per day.

Naylor Jones A #7H – 1,342 barrels of oil and 1.6 million cubic feet of natural gas per day.