Sanchez Energy Raises Eagle Ford Production Guidance

Will Exit 2013 At 15,000-17,000 boe/d & Planning 2014 Exit of 20,000-22,000 boe/d
Sanchez Energy Eagle Ford Shale Map

Sanchez Energy Eagle Ford Shale Map | Click to Enlarge

Sanchez Energy has raised it’s Eagle Ford production exit rate guidance to 15,000-17,000 boe/d for 2013. Capital expenditures have also been revised to $475 million compared to $347 million previously.

The big increase is due to the purchase of 43,000 net acres from Hess. The deal closed on May 31, 2013, with a price tag of ~$280 million. Read more about the deal in the article: Sanchez – Hess Reach Eagle Ford Deal For $265 Million [Read more…]

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…]

ZaZa Energy – Hess JV Terminated in the Eagle Ford and France

ZaZa looks to secure a partner across 170,000 acres in Texas

ZaZa Energy and Hess have agreed to end their joint venture agreement in the Eagle Ford Shale and the Paris Basin of France. ZaZa is taking control of the partnership’s Eagle Ford assets and Hess is taking control of exploration licenses in France. In terminating the agreement, Hess is paying $15 million upfront and will pay an additional $70 million when the transaction closes. [Read more…]

Hess Encouraged in the Eagle Ford

Hess announced third quarter earnings today (Oct. 26). The Eagle Ford was only mentioned briefly.

The question was posed whether or not the Eagle Ford is core to the company.

Analyst:

Paying $3,000 per acre is significant, but is the company ready to call the area “Core”. [Read more…]

ZaZa Energy – Toreador Resources Merge

ZaZa Energy and Toreador Resources have agreed to a merger that will create a new public company that will trade on the NASDAQ under the symbol ZAZA. This is an interesting merger in that both companies are rumored to have joint venture agreements with Hess – ZaZa on its Eagle Ford acreage and Toreador on its Paris Basin acreage. The new ZaZa will bring the two partnerships under one roof.

ZaZa’s Eagle Ford Shale properties will provide a drilling inventory that gives the new company time to fully assess Toreador’s Paris Basin assets. The French aren’t real excited about hydraulic fracturing and the current fracking ban makes drilling in the Liassic shale more of a question than a plan.  [Read more…]

MENU