I took a look at some recent Eagle Ford activity trying to see how some of the more recent Eagle Ford entrants are doing. Newfield, Goodrich, and Carrizo are a few. We have production data through December 2010. Resource plays typically see a maximum monthly production occuring in the second month of the well’s life, so the IPs from the Oct and Nov wells should be a good early indicator of success.
Here is a map of all the new wells coming on from Oct 2010 – December 2010. The usual suspects are at the top, EOG, Anadarko, Petrohawk etc.
Below is a map of the Oct and Nov wells colored by Max Monthly BOE/D and bubbled by Max Monthly liquids. A few things stick out. One, there were a significant amount of dry gas wells that came online during this time. Eagle Ford dry gas activity has really slowed down lately, so this is an interesting development, possibly due to leasehold requirements. They are good gas wells, if only pricing was stronger.
Next, is a map of interesting developing activity. I singled out Newfield, Carrizo, Goodrich, an EOG wet gas well and a Rosetta Dimmit County well.
Every once in a while you see a relatively small or unknown operator drilling some nice wells out here, sometimes this is a prelude to an acquisition. We saw it with Common Resources and Dan A Hughes. We keep an eye out for potential opportunities like this. Here I have highlighted Riley Exploration. I do not know as much about them as I would like, if someone does let us know by commenting or an email.
By the looks of this permitting, Riley has a position bordering the oil window. They could be a potential target for companies looking to add an oily, unconventional asset. Hess has not formally announced their position, it could possibly include some of these assets.
DI subscribers, check the Drillinginfo Eagle Ford Unconventional Update for all things Eagle Ford.