Eagle Ford Shale

U.S. Energy Issues Update On Eagle Ford Shale Operations

U.S. Energy Corp. (USEG) issued an update on its operations in south Texas, where the company is developing the Eagle Ford Shale on its leasehold.  The company is involved with Crimson Exploration (CXPO) in this area.

U.S. Energy Corp. reported that the KM Ranch #1 well is currently undergoing completion operations and results will be released shortly.  The company owns a 30% working interest in this Eagle Ford Shale well, which is located on the Leona River lease in Zavala County.  

U.S. Energy Corp. also announced that the company has signed a second participation agreement with Crimson Exploration to purchase an interest in leasehold in the Eagle Ford Shale.  The leases covered by the agreement are located in Zavala and Dimmit Counties, Texas.

U.S. Energy Corp. will purchase a 30% working interest from Crimson Exploration in 7,186 gross acres.  The leases are all currently held by production and produce 200 gross barrels of oil equivalent per day from the Austin Chalk formation.  The company estimates that the leases contain 44 gross drilling locations, and plans to spud the first horizontal well into the Eagle Ford Shale in October 2011.

Crimson Exploration Reports On Four Eagle Ford Shale Wells

Crimson Exploration (CXPO) disclosed first quarter of 2011 activity in the Eagle Ford Shale in Texas. 

Crimson Exploration said that the Littlepage McBride #1H well, averaged production of 600 barrels of oil per day during the first 30 days, and is currently producing at a rate of 535 barrels of oil per day.  The Littlepage McBride #1H well is located in Karnes County, and the company plans to start drilling the Littlepage McBride #2H and the Littlepage McBride #3H Eagle Ford Shale wells during July and August 2011.

In Zavala County, Crimson Exploration is currently drilling the KM Ranch #1H well to a measured depth of 12,500 feet.  The company has approximately 5,500 net acres in Zavala and Dimmit County, and estimated that the acreage has 147 drilling locations into the Eagle Ford Shale.

Crimson Exploration Reports Successful Eagle Ford Shale Well In Karnes County

Crimson Exploration (CXPO) reported the completion of a well drilled into the Eagle Ford Shale on its acreage in Karnes County, Texas. 

The Littlepage McBride #1 well had an initial daily production rate of 876 barrels of oil and 717,000 cubic feet of natural gas.  This Eagle Ford Shale well was drilled to a measured depth of 15,885 feet with a 4,800 foot lateral.

Crimson Exploration plans to start drilling the KM Ranch #1 well in early May 2011.  This will be the company’s first operated Eagle Ford Shale well in Zavala County.