Austin Exploration Eagle Ford Well with Halcón Resources Has Good Initial Production (IP) Rates

Austin's Burleson County, TX Well Had Initial Production of 1,066 boe/d (87% oil)
Austin Exploration Eagle Ford Acreage Map

Austin Exploration Eagle Ford Acreage Map | Click to Enlarge

Australian-based Austin Exploration saw good initial production (IP) rates from its’ first Eagle Ford well with farmee partner

Halcón Resources in late March 2014 of 1,066 boe/d (87% oil). The well (Stifflemire #1H) was drilled to a total depth of 17,000 feet with an 8000 foot horizontal leg into the Eagle Ford Shale.

Austin Exploration entered the Eagle Ford in 2011, and in May 2013 announced a farm-out program with Halcón, whereby Halcón agreed to pay for the cost of three horizontal wells to earn a 70% interest in 4,400 acres of Austin’s Birch Project. The cost to drill these wells is approximately $10 million per well.

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Clayton Williams Falls Short of First-Quarter 2014 Production Estimate

March 2014 Divestiture of Non-Core Eagle Ford and Austin Chalk Assets Contributes to Lower than Forecasted Production
Clayton Williams Eagle Ford Acreage Map

Clayton Williams Eagle Ford Acreage Map | Click to Enlarge

Clayton Williams production, revenues and operating costs for the first-quarter of 2014 were down compared to the first-quarter of 2013, after two significant divestitures over the course of the last year. Overall production was 250 boe/d below analyst estimates for the first-quarter of 2014 according to company officials.

In March 2014, Clayton Williams sold all of its interests in certain non-core Austin Chalk and Eagle Ford assets. Due to the divestiture, production for the sold assets in the first-quarter of 2014 went down 47% compared to the first-quarter of 2013. Daily production for the sold assets  in the first-quarter of 2014 was 385 boe/d.

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Lucas Energy Reverses Production Declines With Austin Chalk Workovers

Four Workovers and a Horizontal Re-entry Have Been Completed Since September
Lucas Energy Map of Offset Operators - Eagle Ford

Lucas Energy Map of Offset Operators – Eagle Ford | Click to Enlarge

Lucas Energy has reversed production declines with four workovers in the Austin Chalk.

After nine months of restructuring, the company is moving forward with development of its Austin Chalk and Eagle Ford assets. [Read more…]

Marathon Increases Its Eagle Ford Resource Estimate to 1 Billion Barrels

Co-development of the Austin Chalk and Eagle Ford Planned
Marathon Eagle Ford and Austin Chalk Development Plan

Marathon Eagle Ford & Austin Chalk Development Plan

Marathon Oil has increased its total resource estimate for the Eagle Ford from 469 million barrels initially to ~1 billion boe today.

The company will run 18 rigs throughout 2014 in the the Eagle Ford.

In addition, Marathon will pursue developing both the Austin Chalk and Eagle Ford in the area. [Read more…]

Is the Eagle Ford on Its Way to 2 Million Barrels Per Day of Oil Production?

The Play Could Make Texas One of the Most Influential Oil Suppliers in the World
Eagle Ford Production

Eagle Ford Production | Click to Enlarge

Eagle Ford Production has outpaced expectations for five years and it should be no surprise if the area eventually produces more than 2 million barrels of oil per day.

It’s hard to comprehend the full context of the previous statement, so let me state it another way. If the Eagle Ford eventually produces between two and three million barrels of oil per day, the play by itself could land in the list of the top 10 oil producing countries in the world. The entire world produces just under 90 million barrels of oil per day.

Most research organizations predict production will reach between 1.6 and 2 million b/d sometime between 2017 and 2020. Recent results in the Buda and Austin Chalk make it easy to see how the area could produce much more if other formations prove commercial. Add the Permian Basin, where Texas is experiencing similar growth, and the state is closing in on Mexico as the third largest producer in North America (behind the U.S. and Canada) [Read more…]

Marathon Oil’s Eagle Ford Production Jumps 11% – Other Plays Look Promising

Eagle Ford Spud To Total Depth Drilling Time Falls To 12 Days
Marathon Oil Core Eagle Ford Acreage

Marathon Oil Core Acreage | Click to Enlarge

Marathon Oil’s Eagle Ford production jumped 11% to 80,000 boe/d during the second quarter.

Marathon drilled 82 gross Eagle Ford wells and brought 70 wells to production over the three month period. Marathon averaged more than three wells per Eagle Ford pad and 85% of its wells were drilled from pads in the second quarter. The company’s spud to total depth drilling time as fallen to 12 days and spud-to-spud time averaged 18 days. [Read more…]

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