Sanchez – Hess Reach Eagle Ford Deal For $265 Million

Deal Looks Attractive For Sanchez At ~$6,000 Per Acre
Sanchez Energy Maverick Area Map

Sanchez Energy Maverick Area Map | Click to Enlarge

Sanchez and Hess have reached a $265 million agreement for 43,000 net acres in Dimmit, Frio, La Salle, and Zavala counties in the gas condensate and oil window of the Eagle Ford. Sanchez also mentioned potential in the Austin Chalk, Buda Limestone, and Pearsall Shale. [Read more…]

Are Eagle Ford Lease Terms Driving Peak Activity?

Operators are drilling faster and faster and the rig count has held above 250 rigs for over a year

Activity across the Eagle Ford has held at a fever pitch for more than a year now. Many operators have improved drilling times and scaled back the number of rigs be utilized, but they’re still drilling the same number of wells. Other operators are stepping in to pickup additional rigs and we’ve seen very little change in the rig count overall. Approximately 270 rigs have been running in the region for almost 12 months.

“You have to drill a well to hold acreage,” said Tudor, who spoke at a media tour hosted by BHP Billiton Petroleum this month. “There’s a lot of that in America.” [Read more…]

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