Energy & Exploration Preparing to Go Public with Eagle Ford & Woodbine Acreage

Also acquiring 57,275 acres from CHK for $125 million in the Eagle Ford & Woodbine
Eaglebine Formation

Eaglebine Map – Amelia Resources | Click to Enlarge

Energy & Exploration is preparing for a potential $275 million public offering of shares. The company has more than 43,000 acres in Texas and Colorado and has agreed to acquire ~57,000 acres in the Eagle Ford and Woodbine from Chesapeake for $125 million. It was not disclosed if there was production associated with the acquisition. If not, the company is paying a little more than $2,000 per acre.

Energy & Exploration’s founder has a history in land work and the company decided to step into operating at the beginning of 2012. [Read more…]

SM Energy Eagle Ford Production Surges in July

Production averaged 230 mmcfe/d in July. Up from 207 mmcfe/d in Q2.
Growing Production Image

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SM Energy’s Eagle Ford production grew to 230 mmcfe/d in July. That’s up more than 10% from the second quarter when the company produced 207 mmcfe/d. The company is also adding tank batteries this month that will allow for continued growth from the play. SM has been plagued by downstream pipeline curtailments and delays in receiving equipment. Due to the delays, much of the company’s production growth will be weighted toward the end of the year. As of mid-year, the company had completed 26 wells and plans to complete 41 in the second half of 2012. [Read more…]