Abraxas Petroleum provided an operations update on the Eagle Ford. The company's first well in DeWitt County produced more almost 260,000 barrels equivalent in the first seven months and is currently producing 800 barrels of oil equivalent per day. A Talisman operated well, in which the company has an interest, came online in mid-August producing 1,500 barrels of oil equivalent per day after the companies completed a 14 stage frac stimulation. Abraxas is completing a horizontal well with 18 frack stages in Atascosa County and plans to drill two wells in McMullen County before year end. Abraxas has over 12,000 net acres that stretch across Atascosa, DeWitt, Lavaca, and McMullen counties. The company reports having as many as 75 net drilling locations on 160-acre spacing.
- Abraxas currently owns a 41% equity interest in Blue Eagle, a joint venture between Abraxas and Rock Oil Company, LLC.
- In DeWitt County, Texas, Blue Eagle's first well, the T-Bird 1H, continues to outperform expectations and is currently producing 800 barrels of oil equivalent per day, 50% of which is condensate or natural gas liquids. The well has produced approximately 260,000 barrels of oil equivalent during its first seven months on production. Blue Eagle owns a 100% working interest in this well.
- In DeWitt County, Texas, Blue Eagle participated in a non-operated horizontal well with its 43.9% working interest. The Matejek Gas Unit 1 was drilled to a total measured depth of 17,865 feet, including a 3,600 foot lateral, and completed with a 14-stage fracture stimulation. The well was placed on production in mid-August and is currently producing approximately 1,500 barrels of oil equivalent per day on a 10/64-inch choke, 45% of which is estimated to be condensate or natural gas liquids.
- In Atascosa County, Texas, the Grass Farms 1H was drilled to a total measured depth of 13,150 feet, including a 5,400 foot lateral, and completion operations are underway with nine of the planned 18-stages complete. Blue Eagle owns a 100% working interest in this well.
- Blue Eagle anticipates drilling two horizontal wells on its recently acquired leasehold (2,487 net acres) in McMullen County, Texas in the fourth quarter.