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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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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Forest Oil – Schlumberger Eagle Ford Development Agreement Inked

Less Acreage Means More Value For Forest In Deal Worth $3,300/Acre
Forest - Schlumberger Eagle Ford Acreage

Forest – Schlumberger Eagle Ford Acreage | Click to Enlarge

Forest Oil and Schlumberger have signed an Eagle Ford development agreement in Gonzales County, TX. Schlumberger will pay $90 million in the form of future drilling and completion services, as well as related development capital in order to earn a 50% interest in Forest’s Eagle Ford acreage position.

Once the $90 million has been contributed, Forest and Schlumberger will participate in future drilling on a 50/50 basis. Forest expects the drilling carry will contribute to development through 2014. [Read more…]

Chesapeake’s Eagle Ford Well Costs Down, Now Testing Downspacing

Targeting 92,000 Boe/d By Year-End 2013
Chesapeake Eagle Ford Acreage Map

Chesapeake Eagle Ford Acreage Map Q1 2013 | Click to Enlarge

Chesapeake Energy held a conference call yesterday to address the company’s leadership transition. The call also provided an interim operations update.

The Eagle Ford is Chesapeake’s staple liquids asset and the beneficiary of 35% of the company’s $6 billion capital budget in 2013. The play also accounts for approximately 35% of the company’s oil production. [Read more…]

SM Energy Increases Eagle Ford Reserves Estimate – Downspacing

Production Grows ~10% Quarter Over Quarter In The Eagle Ford
SM Energy Operated Eagle Ford Acreage Map

SM Energy Operated Acreage | Click to Enlarge

SM Energy has increased its estimate of net recoverable resources in the Eagle Ford by 500 bcfe to 5.8 Tcfe. SM still only has 2 years of drilling booked as proved reserves. The company attributes the increase in reserves to better EURs (4.5 Bcfe per well) and expectations for tighter well spacing in portions of the play. Briscoe Ranch will be developed on 52-acre spacing compared to guidance of 72-acres per well previously. [Read more…]

Cabot Oil & Gas More Confident in the Eagle Ford & Pearsall

Eagle Ford Downspacing Results Positive - Pearsall Lateral Location Being Evaluated
Cabot Eagle Ford & Pearsall Shale Map

Cabot Eagle Ford & Pearsall Shale Map | Click to Enlarge

Cabot Oil & Gas exited 2012 with more confidence in the Eagle Ford at 400 ft well spacing and more knowledge about the Pearsall Shale. [Read more…]

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