EOG Resources Increases Eagle Ford Reserve Potential 45%

EOG Resources Eagle Ford Reserve Potential
EOG Resources Eagle Ford Reserve Potential

In its second quarter report, EOG Resources revealed a 45% increase in its Eagle Ford estimated potential reserves from 2.2 net BnBoe to 3.2 net BnBoe. This is the company's third reserve increase in four years. EOG officials expect continued production growth in the Eagle Ford, with a current drilling inventory of 12 years.

In the report, company officials said the Eagle Ford Shale was a significant contributor to EOG's U.S. crude oil production growth (33% year-over-year) and associated natural gas liquids (NGLs) growth (22% year-over-year). Natural gas production from the play was also credited as contributing to the company's total production growth. See below for EOG's U.S. production volumes for the quarter:

  • Crude Oil and Condensate - 274,600 b/d
  • NGLs - 78,500 b/d
  • Natural Gas - 925 MMcfd

EOG Eagle Ford Second Quarter Operations Update

In Karnes County, the McCoy Unit #1H and #2H began production at 5,290 and 5,415 b/d with 475 and 415 b/d of NGLs and 2.7 and 2.4 MMcfd of natural gas, respectively. The Wolf Unit #6H, #7H, #8H and #9H, began sales at rates ranging from 3,160 to 3,600 b/d with 310 to 390 b/d of NGLs and 1.8 to 2.3 MMcfd of natural gas.

Northeast of Karnes in DeWitt County, the Justiss Unit #11H, #12H and #13H had initial production rates of 4,000, 3,900 and 4,130 b/d with 690, 650 and 750 b/d of NGLs and 4.0, 3.8 and 4.3 MMcfd of natural gas, respectively.

In Gonzales County, EOG recorded a number of wells with strong initial production including the Boothe Unit #11H and #16H, which had rates of 4,570 and 3,245 b/d with 580 and 500 b/d of NGLs and 3.4 and 2.9 MMcfd of natural gas, respectively. The Zimmerman Unit #14H began sales at 3,800 b/d with 350 b/d of NGLs and 2.0 MMcfd of natural gas.

Southwest of Gonzales in La Salle County, the Naylor Jones Unit 127 #1H, #2H and #3H had initial production rates ranging from 2,200 to 2,500 Bopd with 220 to 250 Bpd of NGLs and 1.3 to 1.5 MMcfd of natural gas. EOG has 100 percent, 100 percent and 75 percent working interest in these wells, respectively.

EOG is the largest oil producer and acreage holder in the Eagle Ford, with ~632,000 net acres across the play.