Anadarko finally announced the JV of their Eagle Ford acreage yesterday. The numbers are pretty staggering, another $1B+ deal. 85,000 net acres (1/3 of the APC position in question) was sold to KNOC out of Korea for $1.55B. KNOC, Reliance and CNOOC are all foreign companies to spend over $1B in Eagle Ford JVs. The Anadarko press release gives more details.
This brings the Maverick Basin Eagle Ford back to the forefront, and what better to way to welcome this news but to have a Maverick Basin update of recent activity. Below is a map of recent producers, wells coming online since 10/1/2010. Our database is current through January so many of these wells have had time to “clean up”.
I highlighted a few Drillinginfo Landtrac polygons to show some lease position. That large single lease at the Dimmit, WEbb border is the 100,000 acre Harrison Ranch. It has a new producer, the Piloncillo 1H, that came online at a max monthly rate of 165 BOPD. Anadarko appears in full scale development mode with 23 new producers. This program may escalate even further with the KNOC JV.
One other well of interest is the Rosetta operated Light Ranch located in SE Dimmit. It is the Rosetta test well of this oil window acreage and it came on nicely 17,022 BO in the first three months. I believe they reported an API gravity of 42 for this well.
Although Anadarko has been producing Eagle Ford wells for a couple years out of the Maverick Basin, I still feel that the area is not as proven as others in the trend. More data is coming in, and I will continue to update. I think the next blog will look at declines and 6 and 12 month cums so check back.
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