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…]

Halcon Allocating More Capital To Its Brazos County Eagle Ford Development

Recent Eagle Ford Wells Producing More Than 1,000 boe/d (90+% oil)
Halcon Eagle Ford Activity Map

Halcon Eagle Ford Activity Map | Click to Enlarge

Halcon announced plans to spend $100 million targeting the Eagle Ford in Brazos County in 2013 just two months ago. Now, the company might spend double or triple that number.

The company didn’t say how much more capital would be allocated to the play, but said “capital is being reallocated to El Halcon from the Woodbine…” [Read more…]

Where Are Oil & Natural Gas Prices Headed? Gary Evans of MHR

Natural Gas Prices Expected To Have Much More Upside

Where are natural gas prices and oil prices headed in 2013? Gary Evans discusses his view US oil & gas prices in the video below. [Read more…]

Eagle Ford Oil Boom – Natural Gas Slump – EagleFordShale.com Quoted

Eagle Ford oil potential has kept drillers interested and even shifting capital to the play over the past year. Both oil and gas prices are up over the past few weeks, but comparatively $92/bbl is much better than $3/mcf. Read the entire article that details rig activity and production growth at chron.com [Read more…]

Chesapeake’s Eagle Ford Shale Production Tops 20,000 boe/d

Chesapeake’s Eagle Ford Shale asset is garnering much of the company’s attention in 2012. To the tune of almost 25% of the company’s capital, with 33 of the company’s 161 rigs focused in the Eagle Ford.

Total net production averaged a little less than 18,000 boe/d net in the fourth quarter of 2011 and current production stands at 22,600 boe/d net. Production was up 60% quarter over quarter and 370% year over year. (You can get pretty amazing growth rates running 33 rigs) Gross operated production is close to passing 50,000 boe/d and stands at a little over 45,000 boe/d. CNOOC owns a 33% interest in Chesapeake’s acreage, so net will always be a close to 50% when you account for royalties and other WI owners. [Read more…]

Valero’s Revenue and Earnings Boosted by Eagle Ford Crude

Valero’s margins are being supported by growing production volumes in the Eagle Ford Shale. As the company upgrades its facilities to handle more Eagle Ford Shale Crude, expect these margins to grow. The light crude and condensate from the Eagle Ford is easier for refineries to handle. Eagle Ford is a more profitable option than heavy crude from South America.  [Read more…]

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