Devon Energy Eagle Ford Spending $1.1 Billion in 2014

Devon Estimates Eagle Ford Average Net Production of 70,000 - 80,000 boe/d Through October, 2014
Devon Energy Eagle Ford Acreage Map

Devon Energy Eagle Ford Acreage Map – 82,000 net acres | Click to Enlarge

Devon Energy plans on investing $1.1 billion in the Eagle Ford in 2014 and will drill more than 200 wells. The company estimates average net production through October, 2014, of 70,000 – 80,000 boe/d in the play.

At the end of February 2014, the company closed on its $6 billion Eagle Ford acreage acquisition from GeoSouthern. The deal included 82,000 net acres in DeWitt and Lavaca Counties, and makes Devon a significant player in the Eagle Ford Shale.

Read more: Devon Energy Acquires Eagle Ford Assets From GeoSouthern for $6 Billion

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Penn Virginia Grows Eagle Ford Position to 80,000 Net Acres in 2013

Penn-Virginia's Eagle Ford Shale Proved Reserves Increased 189% in 2013 to 75.6 mmboe
Penn Virginia Eagle Ford Acreage Map

Penn Virginia Eagle Ford Acreage Map | Click to Enlarge

Penn-Virginia’s Eagle Ford Shale proved reserves increased by 189% in 2013 to 75.6 mmboe (89% oil and NGLs). That’s ~55% of the company’s estimated total proved reserves.

The year-over-year increase in proved reserves was partially tied to a $401 million dollar deal in April 2013, when the company acquired ~40,600 gross (19,000 net) acres from Magnum Hunter Resources.

Read more: Penn Virginia & Magnum Hunter Deal Worth $401 Million

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Lonestar Resources Acquires Eagle Ford Acreage in $71.3 Million Deal

Lonestar Eagle Ford Acreage Acquisition Adds 15,232 Net Acres to Total Assets
Lonestar Eagle Ford Acreage Acquisition

Lonestar Eagle Ford Acreage Acquisition | Click to Enlarge

Lonestar Resources acquired 15,232 gross (13,156 net) Eagle Ford acres for $71.3 million in late February 2014. With the acquisition, the company now holds 23,079 net acres in the Eagle Ford Shale.

The acreage assets included in the deal had a net production of 664 boe/d at the end of 2013, and are located in LaSalle, Frio, Wilson, Brazos and Robertson Counties.

There are many deals like this one taking place in the Eagle Ford. In 2013, approximately $9 billion was spent on acreage deals in the play.

Read more: Eagle Ford Deal Value Leads the U.S. in 2013

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Sanchez Energy Ends 2012 With 200% Plus Production Growth

The Barnhardt #15 Was Restricted Due to Capacity Constraints
Sanchez Energy Eagle Ford Shale Map

Sanchez Eagle Ford Map | Click to Enlarge

Sanchez Energy ended 2012 with production of approximately 4,500 boe/d. That’s a 233% increase over year-end 2011 and over 150% growth from the third quarter of 2012. Proved reserves were estimated at 21.2 million boe.

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