Cabot Oil & Gas To Expand Eagle Ford Drilling Program

Cabot Seeks to Increase Eagle Ford Acreage Position
Cabot Oil & Gas Drilling Program

Cabot Oil & Gas Drilling Program

After seeing positive results in the Eagle Ford over the past six months, Cabot Oil & Gas plans on expanding its Ealge Ford drilling program in the third-quarter of this year. Company officials cite continued improvements in production and cost savings as the primary reasons for the decision to expand their drilling program.

Like may other Eagle Ford operators, Cabot is seeing positive results from pad drilling. In the first quarter, the company completed its first six well pad with an average lateral length of 6,658′. The wells achieved an average peak 24-hour initial production (IP) rate of 1,045 boe/d per well (89% oil) during their first ten days online. Currently, the company is drilling a five-well pad with a planned average lateral length of over 8,500′.

Cabot CEO Dan Dinges, said, “”we have been very pleased with the strides our Eagle Ford team has made over the last six months. Based on the continued improvement in production rates and realized cost savings, which have resulted in higher rates of return, we are adding a third rig to our Eagle Ford program beginning in the third quarter. This additional rig will be focused on multi-well pads and is expected to have minimal impact on 2014 production but will materially impact our estimated 2015 oil production volumes.”

Read more: Cabot Completing First Six-Well Pad in Eagle Ford in 2014

Cabot’s Eagle Ford First-Quarter Update

During the first quarter of 2014, Cabot netted 7,271 boe/d, a 42% increase compared to the same reporting period last year. Total net production included 6,839 bbl/d of liquids, which represented a 49% increase. Also during the first quarter, Cabot added approximately 4,000 net acres to its Eagle Ford position through its leasing efforts.

In April of 2014, the company revealed that it intends to increase its position in the play. Before the end of the year, the company will almost assuredly strike a deal for more Eagle Ford acreage. Currently, Cabot has ~66,000 net acre across the play, with properties principally located in Atascosa, Frio, La Salle and Zavala Counties, Texas.


Sanchez Energy’s First-Quarter Production Up 376% Over Last Year

72% Oil Cut from First-Quarter Production
Sanchez Energy Eagle Ford Acreage

Sanchez Energy Eagle Ford Acreage Map

Sanchez Energy increased its’ portfolio-wide production by 376% to 18,784 boe/d in the first-quarter of 2014 over the first-quarter of 2013. The oil cut from this year’s first-quarter production was 72%, with 15% NGLs and 13% natural gas. Production remained relatively flat quarter-over-quarter.


[Read more…]

Forest Oil Will Double Oil Production in 2014 – Securing Eagle Ford Acreage

Now Seeking Opportunites To Add To Their Eagle Ford Acreage Position
Forest Oil Eagle Ford Acreage Map Year-end 2013

Forest Oil Eagle Ford Acreage Map Year-End 2013 | Click to Enlarge

Forest Oil expects to grow company-wide production by 11% next year, with oil production growing 90-100%.

Sales volumes from the Eagle Ford will drive growth. The company expects production from South Texas to more than double to 6,250 boe/d in 2014.

Forest is planning to spend 77% of its $290-310 million capital budget in the Eagle Ford. [Read more…]

ConocoPhillips’ Eagle Ford Production Doubles Over Past Year

Better Than Expected Production Led To Full-Year, Company-wide Guidance Increase
ConocoPhillips Eagle Ford Acreage Map

ConocoPhillips Eagle Ford Acreage Map | Click to Enlarge

ConocoPhillips produced 121,000 boe/d from the Eagle Ford in the second quarter of 2013, or roughly double the rate the company produced during the same period in 2012. Maybe even more impressively, production grew almost 20% from the first quarter.

Operators are literally hitting their stride in development mode in the Eagle Ford. Don’t be surprised to see similar performance throughout the year as companies work to make their operations more efficient. [Read more…]

Marathon Oil’s Eagle Ford Production Jumps 11% – Other Plays Look Promising

Eagle Ford Spud To Total Depth Drilling Time Falls To 12 Days
Marathon Oil Core Eagle Ford Acreage

Marathon Oil Core Acreage | Click to Enlarge

Marathon Oil’s Eagle Ford production jumped 11% to 80,000 boe/d during the second quarter.

Marathon drilled 82 gross Eagle Ford wells and brought 70 wells to production over the three month period. Marathon averaged more than three wells per Eagle Ford pad and 85% of its wells were drilled from pads in the second quarter. The company’s spud to total depth drilling time as fallen to 12 days and spud-to-spud time averaged 18 days. [Read more…]

Pioneer’s Eagle Ford Growth Back Weighted – Drilling 2-6 Well Pads

Savings From Utilizing White Sand In Completions Balloons To $1.1. Million Per Well
Pioneer Eagle Ford Production Chart

Pioneer Eagle Ford Production Chart | Click to Enlarge

Pioneer Natural Resources brought on 58 Eagle Ford wells in the first half of the year and expects to bring on 78 wells in the second half. Production growth will be weighted to fourth quarter due to a shift from single-well to multiple-well pad drilling.

Only 45% of wells drilled in 2012 were drilled from pads, but that will grow to 80% in 2013. Wells drilled from pads take longer to bring to production, so the shift has delayed production growth. It takes Pioneer 100-120 days from the time of first spud to production from a three well pad. [Read more…]