Rosetta Resources tested a 8,100-acre tract for the first time in the third quarter of 2012. The Lasseter & Eppright 1 well is located in central Dimmit County (oil window). The well has a 5,404-ft lateral and was completed with 15 frac stages. In the first seven days online, the well produced 667 b/d of oil, 1.8 mmcfd of residue gas, 262 b/d of NGLs for an equivalent rate of 1,228 boe/d. I’ll step out on a limb and say more than 1,000 boe/d is really good sign. We’ll likely see the company attribute additional wells to its development program in this area in the coming months. [Read more…]
Marathon Oil reported earnings today and impressive Eagle Ford results accompanied the news. Marathon has driven Eagle Ford drilling times down to 24 days across its acreage and has increased the number of wells it expects to drill by 20 to 250-260 in 2012.
“Our investment in the Eagle Ford shale a little more than a year ago, and our bolt-on acquisitions since then, continue to deliver value beyond original expectations. Not only have we improved the speed and efficiency of our drilling and completions there, we also continue to optimize well spacing which could significantly increase drillable locations and recoverable reserves. [Read more…]
Chesapeake’s Eagle Ford assets will be trimmed down as the company’s focuses on its core areas of development. As part of the company’s “core of the core” strategy, they will divest areas of the Eagle Ford that might not be held by production as leases expire. Chesapeake is simply capital constrained. [Read more…]
Anadarko Petroleum’s average drilling time in the Eagle Ford continues to fall. In the third quarter, the company drilled 28 wells that had a spud to rig release time of less than 10 days. The company’s record still stands at near 6 days, but the overall fleet is getting more efficient and company averages are approaching old records.
Anadarko has nine rigs, one spudder rig, and three completion crews dedicated to Eagle Ford development.
During the quarter, Anadarko’s production from the area grew to 36,400 boe/d net. That’s more than 100,000 boe/d on a gross basis! Daily gross processed production averaged 112,000 boe/d for the quarter. That’s impressive considering Eagle Ford production was near ZERO two years ago.
Anadarko also installed booster turbines at primary delivery points in its gathering system and has increased its ability to deliver sales volumes uninterrupted.
Anadarko Petroleum increased the number of identified Eagle Ford well locations to 4,000 and increased its resource estimate to 600 million barrels of oil equivalent. That means total resource from the company’s 400,000+ gross acres will stretch to more than 1 billion boe. Anadarko is partnered with KNOC across its Eagle Ford acreage.
Anadarko also reached record production in the quarter. The company averaged more than 30,200 boe/d for an entire week. Sales volumes averaged 12,000 b/d of oil, 6,000 b/d of NGLs, and 59 mmcf/d of natural gas during the quarter. [Read more…]