EOG Resources Increases Eagle Ford Reserve Potential 45%

EOG: Current Eagle Ford Drilling Inventory of 12 Years
EOG Resources Eagle Ford Reserve Potential

EOG Resources Eagle Ford Reserve Potential

In its second quarter report, EOG Resources revealed a 45% increase in its Eagle Ford estimated potential reserves from 2.2 net BnBoe to 3.2 net BnBoe. This is the company’s third reserve increase in four years. EOG officials expect continued production growth in the Eagle Ford, with a current drilling inventory of 12 years.

In the report, company officials said the Eagle Ford Shale was a significant contributor to EOG’s U.S. crude oil production growth (33% year-over-year) and associated natural gas liquids (NGLs) growth (22% year-over-year). Natural gas production from the play was also credited as contributing to the company’s total production growth. See below for EOG’s U.S. production volumes for the quarter:

  • Crude Oil and Condensate – 274,600 b/d
  • NGLs – 78,500 b/d
  • Natural Gas – 925 MMcfd

EOG Eagle Ford Second Quarter Operations Update

In Karnes County, the McCoy Unit #1H and #2H began production at 5,290 and 5,415 b/d with 475 and 415 b/d of NGLs and 2.7 and 2.4 MMcfd of natural gas, respectively. The Wolf Unit #6H, #7H, #8H and #9H, began sales at rates ranging from 3,160 to 3,600 b/d with 310 to 390 b/d of NGLs and 1.8 to 2.3 MMcfd of natural gas.

Northeast of Karnes in DeWitt County, the Justiss Unit #11H, #12H and #13H had initial production rates of 4,000, 3,900 and 4,130 b/d with 690, 650 and 750 b/d of NGLs and 4.0, 3.8 and 4.3 MMcfd of natural gas, respectively.

In Gonzales County, EOG recorded a number of wells with strong initial production including the Boothe Unit #11H and #16H, which had rates of 4,570 and 3,245 b/d with 580 and 500 b/d of NGLs and 3.4 and 2.9 MMcfd of natural gas, respectively. The Zimmerman Unit #14H began sales at 3,800 b/d with 350 b/d of NGLs and 2.0 MMcfd of natural gas.

Southwest of Gonzales in La Salle County, the Naylor Jones Unit 127 #1H, #2H and #3H had initial production rates ranging from 2,200 to 2,500 Bopd with 220 to 250 Bpd of NGLs and 1.3 to 1.5 MMcfd of natural gas. EOG has 100 percent, 100 percent and 75 percent working interest in these wells, respectively.

EOG is the largest oil producer and acreage holder in the Eagle Ford, with ~632,000 net acres across the play.

Read more at eogresources.com

EOG Resources Boosts Eagle Ford Oil Production 62% Year Over Year

EOG's Net Eagle Ford Production in the First Quarter - 207,000 boe/d
EOG Eagle Ford Acreage Map

EOG Eagle Ford Acreage Map | Click to Enlarge

Eagle Ford Producer EOG Resources increased its crude oil production in the play by 62% in the first quarter of 2014 over the same reporting period last year. Portfolio-wide, company officials said total US crude oil and condensate production increased by 45%, with the Eagle Ford contributing the most to production volumes. As of March 31st, 2014, EOG’s net Eagle Ford production was 207,000 boe/d.

In the first quarter, EOG entered its third and final phase of its joint venture agreement with ZaZa Energy in the Eaglebine. Plans were accelerated in the fourth quarter of 2013 to move into the second phase, which was a strong indication of the company’s confidence from production in the area.

Read more: EOG Resources – ZaZa Energy Move into Third and Final Phase of Joint Venture Agreement

[Read more...]

EOG Resources – ZaZa Energy Move into Third and Final Phase of Joint Venture Agreement

ZaZa Energy Receives $15 Million in Cash and Carry Consideration from EOG Resources
ZaZa Energy Eaglebine Map

ZaZa Energy Eaglebine Map | Click to Enlarge

EOG Resources joint venture with ZaZa Energy moves into its third and final phase in the Eaglebine. Plans were accelerated in the latter part of 2013 to move forward with the second phase of the joint venture.

Read more: EOG Accelerates Eaglebine JV with ZaZa by Electing into Phase II

In the third phase, ZaZa will receive $15 million and an additional two-well drilling commitment from EOG. As part of the agreement, EOG must begin drilling the first of two wells by July 1, 2014. In exchange, EOG will gain a 75% working interest in all of Zaza’s remaining acreage.

[Read more...]

EOG Resources Increases Eagle Ford Resource Potential by 1 Billion BOE in 2013

EOG Plans on Drilling 520 Net Eagle Ford Wells in 2014
EOG Resources Eagle Ford Acreage Map

EOG Resources Eagle Ford Acreage Map | Click to Enlarge

EOG Resource’s Eagle Ford resource potential went up 45% to 3.2 billion boe from 2.2 billion boe in 2013.

In 2014, EOG will be focusing a large portion of its $8.1 – $8.3 billion capital budget in the Eagle Ford Shale. This decision comes on the heels of increased well productivity and initial production rates in the play in 2013.

The company has plans to drill 520 net wells across its Eagle Ford acreage. At that rate, the company has a drilling inventory in the Eagle Ford of more than 12 years.

Read more: EOG Resources Western Eagle Ford Acreage Looks Better & Better 

[Read more...]

ZaZa Energy Signs Eagle Ford JV In DeWitt County

Recent JVs and Asset Sales Provide Liquidity and a Platform for Production Growth
ZaZa Energy Sweet Home DeWitt County Eagle Ford Acreage

ZaZa Energy’s Sweet Home – DeWitt County Eagle Ford Acreage | Click to Enlarge

ZaZa Energy has agreed to a joint venture (JV) with a private operator on “non-core” acreage in DeWitt County.

The private company will receive a 75% net revenue interest in 7,600 net acres and has committed to carry ZaZa’s costs for drilling two horizontal wells before April 15, 2014. The property includes 12 “high graded” development units in an area where ZaZa has ~23,000 net acres. [Read more...]

EOG Resources’ Western Eagle Ford Acreage Looks Better & Better

Record Well On EOG's Western Acreage Yields 2,815 b/d of Oil
EOG Eagle Ford Shale Acreage Map

EOG Eagle Ford Shale Acreage Map | Click to Enlarge

EOG Resources completed a well in Atascosa County that produced over 2,800 b/d of oil, 160 b/d of NGLs, and almost 1 mmcfd. The well is a record for EOG’s Western Eagle Ford acreage.

The company also had wells in La Salle and McMullen counties that produced ~2,000 b/d or more during the third quarter.

Recent results prove new completion methods bring the Western Eagle Ford up to par with the company’s prolific acreage to the east. [Read more...]

EOG Accelerates Eaglebine JV With ZaZa by Electing Into Phase II

Phase III Election Timeline Moved From January 2015 to January 2014
ZaZa Energy Eaglebine Map

ZaZa Energy Eaglebine Map | Click to Enlarge

EOG Resources joint venture with ZaZa in the Eaglebine is moving into phase two of three. EOG is expected to complete the first three wells this year and was expected to elect into phase two in early 2014. Instead, the company has accelerated its plans.

The deal includes several forms of consideration, so we’ll break it out by company: [Read more...]

Eagle Ford Well Blowout Near Petersville – EOG & Nabors

EOG Resources, Nabors, and Halliburton Employees Were Onsite When Well Control Was Lost
Eagle Ford Well Blowout Near Petersville

Eagle Ford Well Blowout Near Petersville, TX | Click to Enlarge

A rig owned by Nabors was working on a horizontal Eagle Ford well for EOG Resources when well control was lost and the well blew out around 7 pm Wednesday. DrillingAhead reported comments that Halliburton employees were onsite at the time of the blow out as well.

The well is located just off State HWY 111 and FM 966 near Petersville, TX, south of Shiner and west of Yoakum in Lavaca County.

All workers have been accounted for and no injuries were reported. [Read more...]

EOG’s Burrow Unit 5H Well Better Than First Reported

Eagle Ford Performance Driving Oil Production Growth
EOG Eagle Ford Oil Well Record Production

Recent EOG Eagle Ford oil well produces more than 7,500 barrels of oil in one day! | Click to Enlarge

We published details from the Texas RRC completion report related to EOG’s record Eagle Ford well, but the company’s second quarter operations update proved the well was better than first reported.

EOG reported the well came online at more than 9,200 boe/d. That compares favorably to the 8,600 boe/d that was reported to the commission. Better yet, the well was still producing more than 4,200 barrels of oil per day after 30 days. The well is easily the best in the Eagle Ford to date. [Read more...]

EOG Eagle Ford Well Produces 7,500 Barrels in 24 hours – Regional Record

Assuming a 75% Decline, The Well Will Eclipse 1 Million Barrels In Year 1
EOG Eagle Ford Oil Well Record Production

Recent EOG Eagle Ford oil well produces more than 7,500 barrels of oil in one day! | Click to Enlarge

EOG filed a completion report with the Texas Railroad Commission in May that detailed a well test that produced over 8,600 boe/d from the Eagle Ford.

In a 24-hour test, EOG operated well produced 7,513 barrels of oil and 6.8 mmcf of natural gas.

The well is located 15 miles south of Gonzales just east of 183 on the Gonzales – DeWitt county line. The well was drilled to a measured depth of 17,364 ft. The measured depth includes a horizontal lateral of a little more than 5,300 ft. [Read more...]

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