EOG’s Burrow Unit 5H Well Better Than First Reported

Eagle Ford Performance Driving Oil Production Growth
EOG Eagle Ford Oil Well Record Production

Recent EOG Eagle Ford oil well produces more than 7,500 barrels of oil in one day! | Click to Enlarge

We published details from the Texas RRC completion report related to EOG’s record Eagle Ford well, but the company’s second quarter operations update proved the well was better than first reported.

EOG reported the well came online at more than 9,200 boe/d. That compares favorably to the 8,600 boe/d that was reported to the commission. Better yet, the well was still producing more than 4,200 barrels of oil per day after 30 days. The well is easily the best in the Eagle Ford to date. [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…]

Rosetta Budgets $590 Million for South Texas – 2012

Rosetta Resources plans to spend over 90% of its 2012 budget in the South Texas Eagle Ford. Of the $640 million the company plans to spend, $590 million will be spent to run four rigs with a target of drilling 60+ wells. The company has committed to and will have pipeline capacity of 263 mmcfe/d by mid-year 2012. Those are impressive numbers Eagle Ford plans from Rosetta.

Rosetta also announced it would complete its exploration program in the Alberta Basin Bakken of Montana, but has not further development plans at this time. That’s not a real surprise. We haven’t been high on the Alberta Bakken. It’s simply too remote and costly to develop. The 300,000 plus acres the company holds in the area will become a nice option on oil prices.  [Read more…]