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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U.S. Energy Corp. Provides Operations Update For Buda Limestone Wells

U.S. Energy Corp. Has Non-Operated Interests in Dimmit and Zavala County Acreage
U.S. Energy Corp. Oil & Gas Project Area Map

U.S. Energy Corp. Oil & Gas Project Area Map | Click to Enlarge

This week, U.S Energy Corp. provided its operations update for several of it’s Zavala and Dimmit County wells targeting the Buda Limestone formation, which lies just underneath the Eagle Ford Shale. The Beeler #6H well, located in the company’s Booth-Tortuga acreage block, was completed in March 2014, and had a peak early 24-hour flow back rate of 1,185 boe/d, with a 91% oil yield. The company has a 30% working interest and a 22.5% net revenue interest in 12,457 acres of the Booth-Tortuga acreage block. Contango Oil & Gas Company is the operator.

U.S. Energy Corp. also participates with U.S. Enercorp in approximately 4,243 gross (636 net) acres in the Big Wells acreage block in Dimmit County, TX. The leasehold is contiguous to the southwestern portion of the Booth-Tortuga acreage block.

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