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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Newfield’s Eagle Ford Production Is Set to Surge at Year-end

NFX Plans to Drill 20 Wells and Grow Production 30% in 2014
Newfields Eagle Ford Focus Areas

Newfield’s Eagle Ford Focus Areas | Click to Enlarge

Newfield Exploration’s Eagle Ford production grew 9% from the second quarter to the third quarter to average 8,200 boe/d. Fourth quarter production is expected to surge to more than 12,000 boe/d as well pads in the West Asherton area come online.

Growth in the last few months of the year puts Newfield on pace to grow production 70% year over year. The company’s production is approximately 56% oil, 19% NGLs, and 24% natural gas.

Read more: Newfield Moving to Pad Completions in the Eagle Ford

Newfield is drilling horizontal laterals that range from 5,000-10,000 ft in the West Asherton Field in Dimmit County and has been able to drive well costs down approximately 20% to $7.3 million.

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Chesapeake’s Eagle Ford Wells Look Better and Better

Over 35% of the company's wells produced more than 1,000 boe/d in Q3 2012
Chesapeake Eagle Ford Rig Map

Chesapeake Rig Map | Click to Enlarge

Chesapeake’s Eagle Ford well production rates are getting better and better. The company now has hundreds of wells producing and those data points allow the company to improve its drilling and completion processes.

In the third quarter of 2012, Chesapeake brought 124 wells to production. 115 of the wells (93%) produced at peak rates of more than 500 boe/d and 43 wells (35%) produced at peak rates of more than 1,000 boe/d. That’s up from 91% of wells producing 500 boe/d or better and 31% of wells producing 1,000 boe/d or better in Q2 2012 when 121 wells were completed. In the first quarter of 2012, only eight of 60 wells brought online produced more than 1,000 boe/d. I’d say that’s a pretty good improvement in just six months time. CHK is now completing more than three wells a week that produce more than 1,000 boe/d. [Read more…]