Eagle Ford Shale Contends for #1 Spot Among Shale Oil Plays

Eagle Ford wells IP at double the rates of Bakken wells with half the horizontal lateral length

The Eagle Ford’s promising economics are not news to anyone in South Texas, IHS reported promising results from a study the research company has underway. Eagle Ford wells are producing better than the Bakken Shale of North Dakota and Montana.

A typical well in the Eagle Ford averages 300 to 600 barrels-per-day (bpd) in its peak month of production, compared with 150 to 300 bpd for a Bakken well, according to the study.

Current Eagle Ford production is just half that of the Bakken, but the ND shale play had a 10-year head start. A little over 200 rigs are drilling in the Bakken vs. ~250 in the Eagle Ford. It’s also worth noting that horizontal laterals are consistently 10,000 ft in the Bakken. That’s roughly double the most common lateral length in South Texas. That means the Eagle Ford is out producing the Bakken with as little as half the reservoir contact. [Read more…]

Caller’s Oil & Gas Report For Oct. 4, 2011

Eleven well permits were reported in the Caller’s Oil & Gas Report. The most significant of those are two 21,000 ft permits by Pioneer Natural Resources. Both wells were permitted in Live Oak County, with one in the Sugarkane field and one in the Eagleville field.

Longer laterals are the trend in shale  plays. Drilling an extra foot or thousands of feet is much more efficient than drilling multiple wells. Of course, there is a point of diminishing returns due to technical limitations, but operators are routinely drilling 10,000 ft laterals in other shale plays. [Read more…]

Goodrich Petroleum Buda Lime Well Results Impress

In Goodrich Petroleum’s operations update from the second quarter, the company announced impressive well results from a horizontal Buda Lime well. The well came on at almost 1,400 barrels of oil per day and 1.5 mmcfd. The well averaged 1,000 barrels of oil equivalent per day over the first 30 days. At $75 oil that $2.25 million in first month. Subtract royalties and operating costs and your looking at a pretty quick payout. Possibly, 3-4 months. That’s a good well!   [Read more…]

Laredo Energy – Record Eagle Ford Production in Webb County

Eagle Ford Shale gas wells are performing above expectations for Laredo Energy in Webb County, TX. The company provided an update on its operations today. Eagle Ford Shale production reached 40 mmcfd following the completion of two new wells and the company has three wells awaiting completion in late August. Those three wells that will likely increase production beyond current levels.  [Read more…]

Anadarko Petroleum Eagle Ford Shale Operations & Drilling Update

Anadarko Petroleum (APC) released its second quarter earnings results and provided an operations update in the Eagle Ford Shale. The company met and exceeding earnings expectations, while closing the $1.6 billion joint venture with KNOC. The company sold approximately one-third of its Eagle Ford assets in the Maverick Basin earlier in the year.

The company is producing over 45,000 barrels of oil equivalent, which included gas sales of 25 mmcfd, 3,000 barrels a day of NGLs, and 6,000 barrels a day of oil production as an average for the quarter. That’s approximately 25% growth quarter over quarter. Not too bad!! The ramp up in drilling rigs is paying off. [Read more…]

Eagle Ford Permits Update July 25,2011

Six oil & gas permits in McMullen County, TX, made it the most active county for new well permits in South Texas over the last week. Also, Pioneer Natural Resources has permitted three 21,000 ft total depth wells in the Sugarkane field in Live Oak County, TX. I’m not sure how long the horizontal portion of the wells will be, but it is definitely pushing past the norm for the Eagle Ford Shale.  [Read more…]