Austin Exploration Burleson County Cotton Valley – Eagle Ford Well

Austin Exploration drilled a well through both the Cotton Valley Taylor Sands and the Eagle Ford Shale in Burleson County, TX. The company was encouraged by gas shows in the Cotton Valley and oil & gas shows in the Eagle Ford. The company plans to complete the well as soon as possible and might commingle production from both zones.

Very few Eagle Ford wells are producing in Burleson County, so this could be the first of many. Austin Exploration has 5,000 acres in the area and will continue drilling if production rates prove commercial.

The county is better known for production from the Austin Chalk. With successful Eagle Ford wells in Louisiana and possibly one in Burleson County, it sure seems as if the Eagle Ford is only going to get bigger.

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Goodrich Eagle Ford Shale Acquisition

Goodrich Petroleum diversifies outside of the ArkLaTex Basin. The company is very much gas weighted and this deal adds a liquids/oil component to the company’s drilling inventory. ¬†Goodrich paid $59 million (~$1,700 per acre) for 35,000 acres in the Eagle Fors Shale in La Salle County and Frio County. [Read more…]