Aurora Oil & Gas’s Production Increases in the First Quarter of 2014

8 Net Ealge Ford Wells Put Into Production, 15 Net Wells Spud
Aurora Oil & Gas Production Chart

Aurora Oil & Gas Production Chart | Click to Enlarge

Eagle Ford-focused Aurora Oil & Gas, which will soon be absorbed by Baytex Energy, had first quarter estimated gross production of 28,600 (21,100 net) boe/d. That’s a 54% increase over the first quarter of 2013, and a 16% increase over Aurora’s fourth quarter production in the play.

In February of 2014, Baytex Energy agreed to purchase Aurora for $2.6 billion. When the deal closes, it will include 22,000 net contiguous acres in the Sugarkane Field. The acreage is located in what is commonly referred to as the “sweet spot” or oil window of the Eagle Ford Shale.

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Baytex Energy – Aurora Deal for Eagle Ford Assets – ~$2.6 Billion

Deal includes 22,000 net contiguous acres in the Eagle Ford's Sugarkane Field
Aurora Acreage

Aurora Acreage | Click to Enlarge

Canadian-based Baytex Energy agreed to buy Australian-based Aurora Oil and Gas for ~$2.6 billion dollars in early February 2014.

Aurora has approximately 22,000 net contiguous acres in the Sugarkane Field, located in the heart of the Eagle Ford Shale., with 97% held by production.

In March of 2013, Aurora purchased 27 net acres near the Sugarkane Field for $117 million.

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Aurora Spuds Its First Operated Eagle Ford Well

Developing The Eagle Ford At 40-Acre Spacing
Aurora Oil and Gas Operated Eagle Ford Acreage

Aurora Oil & Gas Operated Eagle Ford Acreage | Click to Enlarge

In March of 2013, Aurora acquired operated acreage in the Eagle Ford and on May 31st the company spud its first operated well in the play.

A Nabors rig is being used on the company’s Heard Ranch to drill the JP Heard Bower #19H. A total of three wells will be drilled from the surface pad. [Read more…]

Aurora Oil & Gas Buys Eagle Ford Acreage for $117 Million

2,700 Net Acres Producing 1,620 Boe/d Near The Sugarkane Field
Aurora Eagle Ford Acquisiiton Map

Aurora Eagle Ford Acquisition Map | Click to Enlarge

Aurora Oil & Gas announced on Friday March 1st the company has acquired 2,700 net acres near the Sugarkane Field for $117 million. [Read more…]

Aurora Oil & Gas Testing 350 ft Eagle Ford Well Spacing

How low will downspacing go in the Eagle Ford Shale?
Aurora Oil Gas Eagle Ford Acreage Map

Click to Enlarge

Aurora Oil & Gas provided an operations update announcing it will participate in 11 wells testing tighter spacing across the company’s acreage. Wells in the gas-condensate window of the play will be tested at 500 ft (~60-acre) spacing and wells in the volatile oil window will be tested at 350 ft (~40-acre) spacing. If successful, a 40-acre spacing test means there could be potential for as many as 16 wells drilled targeting the Eagle Ford on the best sections in the volatile oil window.

Ultimate recoveries normally fall when operators downspace in a field, but we’re still in the early stages of determining optimal well design across the Eagle Ford. The best case scenario is that test proves successful without lowering per well recoveries significantly. [Read more…]

Is a Eureka Energy Bidding War Close?

Eureka Energy’s board is rejected an offer from Aurora Oil & Gas, but could be near an agreement with Lonestar Resources. Details of a potential agreement will not be known until Eureka’s board meets over the weekend. Aurora’s offer is only good until June 15 and Australian regulations prevent the company from making a higher offer until after that date.

Lonestar Resources is a private Fort Worth based company with interests in the Bakken, Barnett, and Eagle Ford shales. [Read more…]