Rosetta recently released their second quarter operational and earnings results, and it’s all about the Eagle Ford…..well just 96% of company-wide production anyways. Production in the Eagle Ford grew 6% from the first quarter, from 30.4 MBoed to 32.2 MBoed. The company spent $171.4 million, drilled 20 gross wells with 100% success rate, and completed 15 wells in the second quarter. Rosetta operated two rigs in the Gates Ranch, two in the Karnes Trough, and one in the Briscoe Ranch.
In the Gates Ranch Rosetta has been spacing pilot wells at 50 to 65 acres, or 425 to 565 feet apart, without complications. Full development will be at 55 acres or 475 feet apart. The addition of more wells in the Gates Ranch and overall increased well density will include about 428 wells total, of which around 356 wells remain to be completed. The result is a 29% increase in project inventory at Gates Ranch. Average EURs are 1.67 MMBoe/well (100% incremental reserves) and a NGL yield of 100 Bbls/MMcf.
Below are a couple of maps showing the Gates Ranch Infill Area of Webb County where Rosetta holds 26,500 net acres. The first image is from an industry presentation provided by Rosetta. The second is a map genterated in Drilling Info in order to see when wells came online, get a better spatial view, where future wells are to be drilled, and who operates offset wells.
The other half of Rosetta’s drilling operations occur outside of Gate’s Ranch. At Briscoe Ranch the company began the first three-well pad where projected EURs are to be around 890 MBoe gross per well with 24% oil and 36% NGLs. NGL yield is 122 Bbls/MMcf and Rosetta plans to drill 68 wells here.
In the Karnes Trough area Rosetta drilled four oil wells and six were completed, which brings the producing well count to eight. Average EURs for the wells in the Karnes Trough is around 665 MBoe gross/well with 68% oil and 13% NGLs.
At the end of the second quarter, Rosetta had completed a total of 91 horizontal Eagle Ford wells. This accounts for only 10% of Rosetta’s identified inventory being drilled and on production. The company plans to complete 16 wells in the third quarter and continue to operate 5 rigs in the Eagle Ford. The long-term strategy for the Rosetta will be based upon continuing to develop existing Eagle Ford production base, invest in low-risk plays, and expose only 10% of annual capital to higher risk new ventures.
Keep track of Rosetta and other Eagle Ford operators by checking out the DNA Eagle Ford Operators folder of Drilling Info.
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