Matador Resources Issues Stock To Fund Eagle Ford Acquisitions & Capital Budget

78% of Matador's 2013 Budget Fund Eagle Ford Activity
Matador Resources Eagle Ford Map | Click to Enlarge

Matador Resources Eagle Ford Map | Click to Enlarge

Matador Resources priced a public offering of 8.5 million shares at $15.25/share or for total proceeds of near $130 million on September 4, 2013. The capital raised will be used to fund the company’s capital budget and acreage acquisitions in its core operating areas.

Approximately 78% of Matador’s 2013 capital budget is allocated to the Eagle Ford. Two rigs will run in the region throughout 2013 and one rig will be added in the Permian Basin of West Texas. [Read more…]

Retail Workers Are Hard To Find In The Eagle Ford – Dallas Fed

Commercial Lending & Real Estate Development On The Rise

The latest beige book from the Dallas Federal Reserve notes that finding retail workers in the Eagle Ford is becoming more difficult. The economist also highlighted rising commercial lending & real estate development.

If you are looking for qualified workers, consider a listing on our Eagle Ford Jobs Board. Over 20,000 job seekers search here each month!
[Read more…]

Comstock Resources Sells West TX Assets to Focus in the Eagle Ford

Deal Allows CRK To Drill 20 More Eagle Ford Wells in 2013
Comstock Resources Eagle Ford Map

Comstock Resources Eagle Ford Map | Click to Enlarge

Comstock Resources is selling West Texas assets in Gaines and Reeves counties for $768 million to Rosetta Resources. The sale provides capital that will allow Comstock to speed up Eagle Ford development. [Read more…]

Comstock Directs 3 Rigs to the Eagle Ford – Sets Capital Budget

Three of Six Rigs Will Work the Eagle Ford in 2013
Comstock Resources Eagle Ford Map

Comstock Resources Eagle Ford Map | Click to Enlarge

Comstock Resources’ Eagle Ford assets will account for almost half of the company’s activity in 2013. Three of six rigs planned to work throughout the year will be active in South Texas. The other three will be working in West Texas as the company works to shift its production mix to higher valued liquids. [Read more…]

Comstock Resources Plans $193 Million With Two Rigs Through 2012

Comstock Resources Eagle Ford assets will have $193 million directed their way in 2012. The company will spend over $165 million to drill and complete 24 gross (21.7 net) wells, while also spending $27.7 million to finish 4 gross (3.2 net) wells that were started in 2011. Comstock Resource’s Eagle Ford acreage is predominately located in McMullen and Atascosa counties.

The company announced an increase in reported reserves of 25%, along with a 16% cut in capex. 2012 spending was lowered from $545 million to $458 million. The change was a direct response to sub-$3 natural gas prices. [Read more…]

U.S. Oil Production Growth Expectations Continue To Rise

U.S. oil production is expected to rise more than 2 million barrels per day by 2015. That’s from a new report written by Bentek that was released after the National Petroleum Council’s Production Report last week. The bulk of production will be added by the Bakken, Eagle Ford, and other plays in West Texas. IHS predicts that same oil growth could fuel the addition of 1.3 million jobs and add $97 billion in tax revenues.

I think it’s safe to say all three, production, jobs, and tax revenues, should be welcomed during this economic climate. [Read more…]