EXCO’s Eagle Ford Results Are Meeting Expectations – Manufacturing Mode Coming

EXCO Plans to Run 4-5 Rigs to Develop the Eagle Ford
EXCO Eagle Ford Map

EXCO Eagle Ford Map | Click to Enlarge

EXCO Resources completed the acquisition of Eagle Ford assets in the third quarter and ended September producing approximately 7,600 boe/d from the play.

Immediately following the Chesapeake deal, the company sold a 50% interest in the undeveloped portion of acquired assets to KKR for $131 million, so the two are partners with CNOOC in the Eagle Ford. [Read more…]

Chesapeake & EXCO Reach Eagle Ford Deal – $680 Million

KKR Becomes EXCO's Capital Partner & Will Carry A Portion Of Development Costs
Chesapeake Eagle Ford Acreage Map

Chesapeake Eagle Ford Acreage Map Q1 2013 | Click to Enlarge

Chesapeake has agreed to sell approximately 55,000 net acres in Dimmit, Frio, La Salle, and Zavala counties to EXCO Resources for $680 million. The deal adds a new operating area for EXCO. The company currently operates rigs in West Texas, East Texas & North Louisiana, and the Marcellus Shale region.

The sale is part of Chesapeake’s plans to raise $4-7 billion through assets sales in 2013.

The Eagle Ford acreage includes: [Read more…]

Comstock Directs 3 Rigs to the Eagle Ford – Sets Capital Budget

Three of Six Rigs Will Work the Eagle Ford in 2013
Comstock Resources Eagle Ford Map

Comstock Resources Eagle Ford Map | Click to Enlarge

Comstock Resources’ Eagle Ford assets will account for almost half of the company’s activity in 2013. Three of six rigs planned to work throughout the year will be active in South Texas. The other three will be working in West Texas as the company works to shift its production mix to higher valued liquids. [Read more…]

Comstock – KKR Eagle Ford Partnership Agreed at $25,000/acre

KKR agrees to pay up to $230+ million for a 1/3 stake in 28,000 net acres
Comstock Eagle Ford Map

Click to View Larger Image

Comstock and KKR (Kohlberg, Kravis, Roberts & Co) have signed a participation agreement in the Eagle Ford. KKR will have the right to participate for 1/3 of Comstock’s interest in 28,000 net acres across Atascosa, Frio, Karnes, La Salle, McMullen, and Wilson counties. In exchange, KKR will pay the equivalent of $25,000 per acre through a drilling carry for each acre acquired. Comstock plans for development with spacing of 80-acres per well.

KKR has committed to the drilling carry equivalent of $25,000 per acre for the next 100 wells in Comstock’s planned development. The private equity partner will have the ability to participate in additional Comstock wells under the same terms. [Read more…]

Kinder Morgan – KKR Announce Midstream Deal for Camino Real and Altamont Assets

$ 300 Million for Altamont Assets (Utah) and the Camino Real Gathering System (Eagle Ford Shale)

Kinder Morgan is acquiring KKR’s 50% interest in a joint-venture with El Paso that controls gathering and processing assets in Utah and the Eagle Ford Shale for $300 million. The deal is a┬áprecursor┬áto the $20+ billion Kinder Morgan – El Paso acquisition that will close in May. At closing of both deals, Kinder will own 100% of the two systems.

Both systems were in place to help gather and process El Paso’s upstream oil and gas production in the areas. The Camino Real System in South Texas has capacity of 150 mmcf/d and 110,000 b/d. The Altamont system is larger and includes over 1,000 miles of pipelines, a processing plant, and a natural gas fractionator. [Read more…]

KKR Continues Aggressive Shale Strategy in the Eagle Ford

KKR is building on its shale experience. The company is rumored to be in play for Samson, a large U.S. based private exploration and production company.

In the Eagle Ford, KKR’s dealings continue. The company is reported to have recently sold acreage for $70 million. That’s on the back of the $3.5 billion deal KKR and Hilcorp closed with Marathon Oil. [Read more…]