Swift Energy’s Eagle Ford Well Costs Are Down & IP Rates Are Up

Drilling Costs Are Down More Than $1 Million Per Well Over the Past Year
Swift Energy Eagle Ford Drilling Savings

Swift Energy Eagle Ford Drilling Savings | Click to Enlarge

Swift Energy has seen its well costs fall and its initial production (IP) rates rise in 2013. Across two areas in South Texas, the company’s IP rates are up 15% or more and drilling and completion costs are down 13% or more.

That’s exactly what operators want to see and its why several companies are selling assets to fund accelerated development programs in the Eagle Ford.

Swift is selling assets in Louisiana and just last week Forest Oil sold assets in the Panhandle to fund its Eagle Ford operations. [Read more…]

SM Energy Increases Eagle Ford Completion Guidance – Adds Eaglebine Acreage

Will Complete 20 More Wells At Same Level Of Investment
SM Energy Eagle Ford Map

SM Energy Eagle Ford Map | Click to Enlarge

SM Energy has raised full-year, company-wide production guidance by 10% to 47.9 mmboe. The increase is largely due to impressive performance in the Eagle Ford.

Operated Eagle Ford production volumes increased 28% from the first quarter to the second quarter. Operated production in the play averaged 66,100 boe/d and non-operated production averaged 17,400 boe/d for a total of 83,500 boe/d net.

SM also increased its Eagle Ford completion guidance from 75 to 95 for the full year. Better yet, the company isn’t increasing its planned capital outlay. That means they’ll bring 20 wells to production at the same level of investment previously announced. That’s the kind of win-win every operator is looking for. [Read more…]

Talisman Energy Shopping For Eagle Ford Buyers

The Company Could Sell 74,000 Acres And ~30,000 boe/d
Talisman Eagle Ford Map

Talisman Eagle Ford Map | Click to Enlarge

Talisman Energy has retained the Royal Bank of Canada to determine if buyers are interested in the company’s Eagle Ford acreage.

Talisman previously announced plans to divest $2-3 billion in non-core assets. The Eagle Ford is a core holding, but there are hopes the company could get as much as $2 billion for its 74,000 acres and 30,000 boe/d (2013 guidance). [Read more…]

Pioneer Natural Resources Eagle Ford Production Up & Costs Down

Eagle Ford Production On Pace To Eclipse 40,000 boe/d In 2013
Pioneer Eagle Ford Production Chart

Pioneer Eagle Ford Production Chart | Click to Enlarge

Pioneer Natural Resources’ Eagle Ford production was up to 37,000 boe/d in the first quarter.

That’s an increase from 35,000 boe/d in the fourth quarter and a 2012 average of 28,000 boe/d.

Pioneer drilled 37 wells in the quarter and brought 35 of those to production. In total, the company expects to drill 130 wells at a cost of $7-8 million each this year. Those wells will be drilled with just 10 rigs compared to 12 in 2012. [Read more…]

Newfield Moving To Pad Completions and Driving Costs Down

NFX's Eagle Ford Production Was Down In Q1 - Will Surge In Q2
Newfields Eagle Ford Focus Areas

Newfield’s Eagle Ford Focus Areas | Click to Enlarge

Newfield (NFX) is one of the first to show what I expect we’ll see from others later in the year.

NFX’s Eagle Ford production was down in the first quarter, BUT it will surge in the second quarter when well pads that are already drilled are completed.

Others will experience this as well. Pad drilling will make production profiles look much more choppy than they have been to date. [Read more…]

Anadarko’s Eagle Ford Well Costs Down Below $6 Million

Brasada Processing Plant Coming Online In Late May Or Early June
Anadarko Eagle Ford Acreage Map

Anadarko Eagle Ford Acreage Map | Click to Enlarge

Anadarko’s Eagle Ford production is up 55% from one year ago to 42,200 boe/d. Liquids volumes account for 28,000 b/d of production and grew even faster at a rate of 60% over the past year. [Read more…]