Rosetta Budgets $590 Million for South Texas – 2012

Rosetta Resources plans to spend over 90% of its 2012 budget in the South Texas Eagle Ford. Of the $640 million the company plans to spend, $590 million will be spent to run four rigs with a target of drilling 60+ wells. The company has committed to and will have pipeline capacity of 263 mmcfe/d by mid-year 2012. Those are impressive numbers Eagle Ford plans from Rosetta.

Rosetta also announced it would complete its exploration program in the Alberta Basin Bakken of Montana, but has not further development plans at this time. That’s not a real surprise. We haven’t been high on the Alberta Bakken. It’s simply too remote and costly to develop. The 300,000 plus acres the company holds in the area will become a nice option on oil prices.  [Read more…]