Abraxas Petroleum Operations Update Reveals Strong Initial Production (IP) Rate for McMullen County Well

In its' First 30-days, the Dutch 2H Had Average Production of 1,093 boe/d
Abraxas Petroleum, Cave Prospect Map

Abraxas Petroleum, Cave Prospect Map | Click to Enlarge

San Antonio-based Abraxas Petroleum Corp. had good initial production on one of its’ Cave Prospect wells, located in McMullen County, in the first-quarter of the year. In its’ first 30-days, the Dutch 2H had average production of 1,093 boe/d.

According to company officials, Abraxas will shut-in the well for 60-days to drill an off-set well, when drilling is completed on its’ Eagle Eyes 1H well, located in the company’s Jourdanton prospect, in Atascosa County.

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Swift Energy Reveals Initial Production Rates for Six Eagle Ford Test Wells

Company Officials Say IP Rates from Test Wells Indicate More Predictable Growth Profile in Acreage
Swift Eagle Ford Acreage Map

Swift Eagle Ford Acreage Map | Click to Enlarge

Swift Energy tested three Eagle Ford wells in the Fasken area of Webb County, with average initial production (IP) rates of 22.1 mmcf/d. The Company has identified an additional 50-60 undeveloped lower Eagle Ford locations in the Fasken area and expects future well costs to be approximately $7.5 million. The company is currently in the negotiations process for a joint venture in this area to accelerate development.

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New Standard Energy Completes Drilling Operations on its First Eagle Ford Wells

Production Slated to Begin in April or Early May
Magnum Hunter Resources Eagle Ford Acreage Map

Magnum Hunter Resources Eagle Ford Acreage Map

Australia-based New Standard Energy completed drilling operations on its second Eagle Ford well (Peeler Ranch 6-H) in late March 2014. The first well (Peeler Ranch-5H) was completed at the end of February 2014. New Standard entered the Eagle Ford in December 2013 when the company acquired Magnum Hunter Resources’ Eagle Ford assets in Atascosa County, TX.

The wells are operated on the company’s behalf by Magnum Hunter. New Standard has a 98.4375 % working interest and a 72.4125 % net royalty interest in the two wells.

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Goodrich Petroleum’s Eagle Ford Capital Budget Increases for 2014

6 Net Wells to be Drilled in the Eagle Ford in 2014
Goodrich Petroleum Eagle Ford Acreage

Goodrich Petroleum Eagle Ford Acreage | Click to Enlarge

Goodrich Petroleum Corporation plans to spend more in the Eagle Ford Shale in 2014 than previous estimates indicated. The company’s total capital budget remains $375 million for the year; however, the capital budget allotted for the Eagle Ford Shale has been bumped up to $40-million. In October 2013, Goodrich’s capital spending in the Eagle Ford was set closer to $30-million.

Goodrich Petroleum plans to drill 9 gross (6 net) wells in the Eagle Ford this year.

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

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Matador Resources Oil Production Up 76% Company-Wide Due to Eagle Ford

Look for Matador Resources to Acquire Eagle Ford Acreage in 2014
Matador Drilling Graph

Matador’s Eagle Ford Drilling Costs | Click to Enlarge

Matador Resources had a 76% increase in oil production across its portfolio in 2013 from 3,317 b/d  – 5,843 b/d. The increase was a direct result of the company’s drilling operations in the Eagle Ford Shale. In 2013, Eagle Ford production also contributed ~14.9 mmcf/d, which was ~42% of the company’s total natural gas production.

Matador continues to have solid results in the Eagle Ford. Look for the company to make some acreage deals in the play this year.

Matador’s Eagle Ford budget for 2014 is $318 million.

Read more: Matador Eagle Ford Capital Budget – $318 Million in 2014

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Clayton Williams Grew Eagle Ford Oil Production ~430% in Fourth-Quarter of 2013

Eagle Ford Capital Budget - ~$160 Million in 2014
Clayton Williams Eagle Ford Acreage Map

Clayton Williams Eagle Ford Acreage Map | Click to Enlarge

Clayton Williams Energy grew its Eagle Ford oil production in the fourth quarter of 2013 over 2012 by ~430% from 312 b/d – 1,354 b/d.

The increase in production is a sign that the company is gaining confidence in moving forward with its Eagle Ford operations. In an early February 2013 statement, the company alluded that additional drilling and production data would be needed to determine if the Eagle Ford Shale drilling program could be economically viable.

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