Comstock Resources Focused on the Eagle Ford in 2014 – Almost $400 Million Planned

Zero Natural Gas Wells Will be Drilled by Comstock in 2014
Comstock Eagle Ford Drilling Plans 2013

Comstock Eagle Ford Drilling Plans 2013 | Click to Enlarge

Comstock Resources will spend $394 million of the company’s $450 million 2014 budget in the Eagle Ford.

The company will spend $264 million drilling 59 gross (40.2 net) wells in the South Texas Eagle Ford, $80 million completing wells in the South Texas area, and $50 million to drill 10 gross (5.6 net) East Texas Eagle Ford wells (Burleson County) for a total of $394 million.

Read more: Comstock – Ursa Resources Reach Eagle Ford Deal Worth $66.5 Millon [Read more…]

Goodrich Increases 2014 Budget by 50% & Is Shifting to the Tuscaloosa Marine Shale

Eagle Ford Spending Down 70% & TMS Spending Up 400% in 2014
Goodrich Petroleum Eagle Ford and Pearsall Activity Map

Goodrich Petroleum Eagle Ford & Pearsall Activity Map | Click To Enlarge

Goodrich Petroleum will spend 44% or $100 million of the company’s $255 million budget in 2013 in the Eagle Ford. That will change in 2014 when the company will spend just $30 million in the play. [Read more…]

Swift Energy Will Fund Accelerated Eagle Ford Development With Louisiana Sale

Swift Energy Eagle Ford Production Chart

Swift Energy Eagle Ford Production Chart | Click to Enlarge

Swift Energy has abandoned plans to find a joint venture partner in the Eagle Ford in favor of selling assets in Central Louisiana. Executives note the lack of premium placed on their Eagle Ford assets in the market. They view the Eagle ford as the best assets in the company and prices simply aren’t what they were the past few years.

Instead, the company will sell assets in Louisiana. As a result, the capital budget in the Eagle Ford was increased by $50 million and Swift plans to maintain a two rig program through the rest of 2013.

Company-wide production was down slightly in the quarter and Eagle Ford production was down to flat. There were gas gathering constraints in Webb County during the quarter, but Eagle Ford production had rebounded to grow 10% in July. [Read more…]

Louisiana Eagle Ford Well Result Promising

Indigo’s recent well results indicate the commercial extent of the Eagle Ford could extend into Louisiana. Indigo recently completed a successful well in Rapides Parish, La, that flowed over 500 boe/d over a 24 hour period.

The company plans to sell an operated interest in its assets in early 2012 and then begin development of the play. For reference, here’s a simplified cross section of the Eagle Ford from Texas to Louisiana.

Geological Cross Section [Read more…]