The Eagle Ford Shale drilling rig count expanded by three rigs to 267 running this past week. That is the most active rigs we’ve seen working the area since the end of January.
Earnings reports continued this week with Anadarko, EOG Resources, Marathon Oil, and SM Energy all providing Eagle Ford operating updates. EOG reported that 27 wells were completed in the quarter that produced oil at rates of greater than 2,500 b/d. On the other side of the coin, Marathon reported it was writing down acreage the company wouldn’t develop, but still didn’t disappoint with 22% Eagle Ford growth over the fourth quarter of 2012.
We also spent time out at OTC this week. If you’ve never been and have an engineering mindset, you should go just to see the exhibits. Almost 105,000 people attended this year. You can read more about our experience in the article – OTC Sheds Light On New Technologies [Read more...]