From motley Fool .comAs for the growing popularity of the Eagle Ford, this is summed up by a recent Ross Smith Energy Group report, which found that rigs operating in the play quadrupled from 11 in August to 45 in January. That's some serious heat down in South Texas
For the Eagle Ford Shale located in Central and South Texas, Magnum Hunter has allocated approximately $7.0 million of capex (approximately 28% of the total). The Company plans to horizontally drill two unbooked Eagle Ford Shale locations during fiscal year 2010, with one of these to be completed before mid-year. Additionally, Magnum Hunter will be fracing this month an Eagle Ford Shale vertical well to test the fracturing and stimulation process for use going forward on the Company's extensive Eagle Ford Shale mineral lease acreage inventory. The balance of Magnum Hunter's capex budget in the Eagle Ford Shale will be for additional leasing related activities that are currently ongoing.
In 2009, Petrohawk Energy (NYSE: HK) spent about $450 million amassing leasehold in shale plays like the Haynesville and the Eagleford.
Hilcorp has exercised option to be operator over Sugarloaf. See my post on ADI of EME Regulated News Release. Also, Easley still progressing fine, Weston frac started yesterday and Kennedy still cleaning up.
El Paso Corporation (NYSE: EP) reported today that as of December 31, 2009, it had 5.1 trillion cubic feet equivalent (Tcfe) of estimated total risked unproved resources , or 8.9 Tcfe unrisked, in addition to its 2.75 Tcfe of proved natural gas and oil reserves. The company's risked total unproved resources rose approximately 1.6 Tcfe, or 44 percent, from year-end 2008 levels. The majority of the increase was due to the addition of extensive drilling opportunities in the Haynesville Shale and Eagle Ford Shale programs
Petrohawk Energy plans a similar ramp up in the Eagle Ford shale. The company drilled 24 wells at its Hawkville Field in 2009, and plans 60 more wells in 2010.
AUT hit a new 52wk high today at 41c.... I couldnt resist and bought some more..... too much happening and its only looking better by the day..... and virtually none avaialable to buy....
I am new to this game but this is the first time I have seen a share depth like this, with so many buyers lined up and so few sellers. What happens to the price if for a little while no one is willing to sell?
We expect to drill up to 1750 locations on that, and we’ll be ramping up to 14 rigs over the next three years in the Eagle Ford play which will significantly put it in the camp very similar to the Spraberry trend area, which will both drive the growth to double-digit group production growth starting in 2011......
........We’ll be ramping up quarterly and expect to exceed 10% plus from fourth quarter 2009 to fourth quarter 2010, and then resuming to double-digit production growth in 2011 and beyond, especially with a number of locations we have in the Spraberry Trend area field and also in the Eagle ford Shale play..........
............potentially up to 750 locations in Eagle Ford and other locations throughout our asset base.................
..........Eagle Ford joint venture obviously we’re very excited about our last two wells we’ve drilled, this JV process, a lot of excitement here. And also the excitement about from the outside in regard to this play, obviously, we’re expecting to announce something hopefully by the end of the second quarter.
So we continue to be very excited about what we’re seeing at Eagle Ford Shale. I think, it needless to say, its an important project for the company and we’ve got a great team and people now working on the Eagle Ford Shale and look forward to the joint venture deliberations.
Now turning to the next slide, slide 13, talking about Eagle Ford. Scott has already discussed the Eagle Ford in some detail when it comes to the joint venture. But suffice it to say, today we have two rigs running in the field. Today those wells are being drilled in DeWitt and Karnes Counties where we’re really focused on our liquids rich acreage. A substantial amount of our acreage is actually in the liquid-rich band shown here in the intermediate sections of the olive color in the central part of the Basin.
The joint venture activities are proceeding well as Scott mentioned and the result of which would be hopefully a significant ramp up in drilling in the second half of 2010 with a JV partner.
The two wells we’ve drilled so far in the field that were successes the Sinor number 5 and Sinor number 1 have given us a lot of confidence in terms of the kind of rate the wells can make, particularly the Sinor number 1 well, having been drilled toward what we would consider more of the dry gas window produced at the highest rate we’ve seen in the field for gas well, some 17 million cubic feet a day IP. That gives us a lot of confidence and even if we are drilling wells in the dry gas window, we feel like we can do so at rates that will be, you know, highly economic.
IMO AUT has leases over most that area identified in red below.... on the borders of Karnes, Live Oak and McMillan...being smack bang in the middle of Peioneers identified oil rich Window.....
MIR can you cross check this....pls
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DYOR & Seek expert advice - I hold...
Thursday, Feb 11, 2010
Forbes Energy Services Ltd. .......... we expect to see gradual improvement throughout 2010, driven largely by oil related activity and the growth of the Eagle Ford Shale play in South Texas."
From Wall Street Journal dot comFeb 11th 2010
Mark Papa, chairman and chief executive of EOG Resources, said ......that the company will invest most of its capital in oil-related projects.
Papa said the Haynesville and Bossier Shales--two natural gas-rich rock formations in Louisiana--would be "the largest single driver" behind the increase in natural gas output. The company plans to drill 70 Haynesville and Bossier wells this year.
But EOG Resources did not provide details on the Eagle Ford Shale, a rapidly developing oil and gas field in South Texas, where the company has been drilling wells and leasing acreage.
"Until our lease situation is tied up, we're not going to make any further comments," Papa said.
condog i see you have been busy with vil . imo if every thing went to plan they should of finished fracs or close to by now, so possible results early next week.i am hoping for even better results then kennedy because while drilling western they got flaring.i think that 2nd rig is still coming.
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