Clayton Williams released an Eagle Ford operations update earlier this week. They detailed their second Eagle Ford well, the Smally-Robinson #1. It initially flowed at 492 BOPD, and is currently flowing at 175 BOPD. The press release stated that they are still evaluating their Eagle Ford potential, which underlies most of their Austin Chalk wells. Consistent with their 1Q2010 Earnings Call, they are saying that the economic viability of an Eagle Ford drilling program is under evaluation.
This well is flowing at a higher rate than their first well and they increased the number of frac stages from 9 – 12. The Smalley-Robinson was drilled Burleson county to a vertical depth of 7,020’ with a lateral of 5,500’. The cost was $3.3 million.
Below is a Drillinginfo map of their producing wells in the area.
A few interesting things…
The $3.3 million dollar drilling and completion cost is lower than many of the operators are quoting. Goodrich estimates $5 million, Cabot estimates $4.5-$5 million, Petrohawk’s targeted cost is $6 million. The reason for this may be a shallower depth, but 7,020’ does not appear to be that much shallower.
Their Frio and LaSalle acreage is on trend with other operators oil window wells. Cabot and Goodrich are in the area, as well as EOG. Maybe they will address this block of acreage in their 2Q2010 conf call.
Check the Eagle Ford Unconventional Updates for up to date Eagle Ford information and 2Q2010 conference call summaries.
Justin Birmingham
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