Matador Resources Oil Production Up 76% Company-Wide Due to Eagle Ford

Look for Matador Resources to Acquire Eagle Ford Acreage in 2014
Matador Drilling Graph

Matador’s Eagle Ford Drilling Costs | Click to Enlarge

Matador Resources had a 76% increase in oil production across its portfolio in 2013 from 3,317 b/d  – 5,843 b/d. The increase was a direct result of the company’s drilling operations in the Eagle Ford Shale. In 2013, Eagle Ford production also contributed ~14.9 mmcf/d, which was ~42% of the company’s total natural gas production.

Matador continues to have solid results in the Eagle Ford. Look for the company to make some acreage deals in the play this year.

Matador’s Eagle Ford budget for 2014 is $318 million.

Read more: Matador Eagle Ford Capital Budget – $318 Million in 2014

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Halcón Resources Will Spend 40% of its 2014 Budget in the Eagle Ford – ~$380 Million

Halcón Resources Increases Fourth-Quarter Production By 43%
Halcon Resource's Eagle Ford Acreage Map

Halcon Resource’s Eagle Ford Acreage Map | Click to Enlarge

Halcón plans on spending ~$380 million in its East Texas Eagle Ford acreage (El Halcón) in 2014. That’s approximately 40% of the company’s budget.

At the end of February, 2014, there were 45 Eagle Ford wells producing, 10 wells completing or waiting on completion, and 4 wells being drilled.

Read moreHalcon Holds Production Guidance & Lowers its 2014 Capital Budget

Halcón currently has working interests in approximately 100,000 net acres tied to prospective drilling in the Eagle Ford formation in East Texas. The Company plans to operate an average of 3 rigs and spud 40 to 50 gross operated wells in 2014.

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Pioneer Hits Record Q4 Eagle Ford Production – 40,000 boe/d

Pioneer's 2014 Capital Budget Set at $545 Million for the Eagle Ford
Pioneer Eagle Ford Production

Pioneer Eagle Ford Production | Click to Enlarge

Pioneer set a record for its fourth-quarter 2013 production in the Eagle Ford Shale, averaging 40,000 boe/d. That’s up ~14% from 35,000 boe/d in the fourth-quarter of 2012.

Forty-one wells were placed on production during the quarter in the Eagle Ford. Full-year 2013 production averaged 38,000 boe/d. That’s an increase of ~35% compared to average production of 28,000 boe/d in 2012.

In the fourth-quarter, the Eagle Ford contributed to Pioneer’s net recoverable resource potential, which increased from more than 8 billion boe to more than 10 billion boe.

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Chesapeake Eagle Ford Spending $1.82 Billion in 2014

Chesapeake's Capital Budget Down in 2014 - More Asset Sales Coming
Chesapeake 2014 Capital Budget

Chesapeake Capital Budget | Click to Enlarge

Chesapeake has set its 2014 capital budget at $5.2 billion – $5.6 billion. That’s down ~20% from the midpoint of the company’s 2013 capital budget.

Approximately 35% of the budget will go to the Eagle Ford in 2014.

Low end estimates put that figure at about $1.82 billion. The company plans to run  15 – 18 operated rigs in the Eagle Ford throughout the year.

Read more: Chesapeake & EXCO Reach Eagle Ford Deal – $680 Million

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Sanchez Energy Expects Eagle Ford Development Spending to Near $600 Million

Approximately 10% of Spending Is Directed to the Tuscaloosa Marine Shale
Sanchez Energy Eagle Ford Map Jan 2014

Sanchez Energy Eagle Ford Map Jan 2014 | Click to Enlarge

Sanchez Energy has set its capital budget for 2014 at $650-700 million.

Approximately 95% ($617-665 million) will be spent on drilling and completing wells and 90% of that ($556-599 million) will be spent in the Eagle Ford.

Sanchez expects to double production in 2014 and average 21,000-23,000 boe/d. [Read more…]

SM Energy Plans 100 Operated Eagle Ford Completions in 2014

Will Spend $250 Million More in 2014 Due to Mitsui's Cost Carry Being Exhausted
SM Energy Eagle Ford Map

SM Energy Eagle Ford Map | Click to Enlarge

SM Energy plans to spend $900 million in the Eagle Ford in 2014.

Approximately $650 million is planned for the company’s operated position where 100 Eagle Ford completions are expected. An additional $250 million will be spent on acreage operated by Anadarko.

The company’s costs carry from Mitsui will be exhausted in the first half of the year. From that point, SM Energy will be responsible for its working interest share of costs.

Read more: SM Energy and Mistsui Agree to Eagle Ford Joint Venture

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