EOG Accelerates Eaglebine JV With ZaZa by Electing Into Phase II

Phase III Election Timeline Moved From January 2015 to January 2014
ZaZa Energy Eaglebine Map

ZaZa Energy Eaglebine Map | Click to Enlarge

EOG Resources joint venture with ZaZa in the Eaglebine is moving into phase two of three. EOG is expected to complete the first three wells this year and was expected to elect into phase two in early 2014. Instead, the company has accelerated its plans.

The deal includes several forms of consideration, so we’ll break it out by company: [Read more…]

SM Energy Expects Eagle Ford Condensate Discount – Interruptible Gathering

Eagle Ford Production Up 74% From Q1 2012
SM Energy Operated Eagle Ford Acreage Map

SM Energy Operated Acreage | Click to Enlarge

SM Energy expects its Eagle Ford condensate production will realize a long-term average discount of $7-8 to NYMEX prices. Oil production in the region averaged price realizations of 101% and 103% of WTI in the fourth quarter of 2012 and first quarter of 2013, respectively. [Read more…]

EOG – ZaZa Joint Venture in the Eaglebine

EOG Will Operate And Commence Drilling Early In 2013
ZaZa Energy Eaglebine Map

ZaZa Energy Eaglebine Map | Click to Enlarge

ZaZa Energy and EOG Resources have reached terms on a joint venture (jv) targeting the Eaglebine in Grimes, Madison, Montgomery, Trinity, and Walker counties.

ZaZa is also selling Eagle Ford acreage in separate transactions. Two deals for more than 10,000 acres in the Moulton area were sold to undisclosed buyers for $52.5 million. [Read more…]

Is the Eaglebine Ready To Take Off?

Drilling in 2013 Will Determine The Extent Of The Play
Halcon Resources Eaglebine Map

Halcon Resources Lease Map

Drilling results in the Eaglebine have been relatively quiet, but operators have leased aggressively in Brazos, Leon, Madison, Walker, and Grimes counties for a few years now. [Read more…]

ZaZa Energy Acquires Eaglebine Acreage From Range Resources

Total Acreage Prospective for the Eaglebine is 144,000 Gross (89,000 Net) Acres

ZaZa Energy completed an acquisition in March from Range Resources that expanded the company’s Eaglebine position to almost 90,000 net acres. The company basically doubled its gross acreage in the play from 83,000 to 144,000 gross acres through the acquisition. ZaZa will operate the acreage and is require to make two undisclosed payments and drill one well under terms of the deal. [Read more…]