Abraxas Petroleum Eagle Ford Well Results - September

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.

Global Petroleum - Texon Testing 17 Fracks in McMullen County

Global Petroleum announced more details on Texon's lastest wells in the Eagle Ford. What is Texon's third well was completed with 17 frack stages instead of the 15 used in previous wells. Watch to see if production results increase accordingly. It's an interesting puzzle finding the right number of frack stages at the right costs. 

Global Petroleum (LON:GBP) reported this morning that its partner Texon Petroleum (ASX:TXN) has successfully fracced the second Eagle Ford well. The well will now be tested.

Global says recovery of frac fluid used in the process will probably take a few days after which Texon will conduct a proper flow test of the well, codenamed Tyler Ranch EFS Nos2H.

Fraccing – a procedure designed to increase production from the well – was carried out on Tyler Ranch EFS Nos2H over 17 stages.

Global has a 7.939% working interest in approximately 1,651 acres beneath the Olmos formation at the Leighton project, including the Eagle Ford Shale.

Read the full news release at proactiveinvestors.co.uk

Texon Eagle Ford Well Results and Reserves Growth of 50%

Texon Petroleum is taking a mid-year hike of 50% in its Eagle Ford Shale reserves bookings. The increase is attributable to the company's two producing wells and two wells awaiting completion. The company stated that 88% of its Eagle Ford reserves are oil and gas liquids.  The company now has almost 900,000 barrels of proved reserves and estimates total proved, probable, and possible reserves total 8,423,000 barrels.

The two wells the company has producing came online at 785 barrels of oil equivalent per day and 600 barrels of oil equivalent per day over the first 15 days of production, respectively. That's above average for McMullen County wells close to Texon's property. The wells were completed with 15 frack stages, with the less of the two wells only have 12 effective fracks. 

Australia-listed Texon Petroleum has booked nearly a 50% increase in reserves following an independent review of its Eagle Ford properties in the US during the first half of the year.

The company’s overall proved, probable and possible reserves, attributable to its net revenue interest, climbed to about 10 million barrels of oil equivalent, up from 6.7 million boe at the end of last year.

The increase came following an independent review by Netherland, Sewell & Associates Incorporated (NASI) which increased the estimated proved, probable and possible reserves of Texon’s Eagle Ford assets from about 5 million boe to 8.4 million boe as of 30 June.