Enverus Blog

Insights across the energy value chain

There was plenty of unconventional activity being discussed on the Hess conference call yesterday.  For example, the near 1 million net acre position in the Bakken (where they will spend $1.8B in 2011) and their early exploratory effort with Toreador Resources in the Paris Basin.  The Eagle Ford, however, was given near zero attention.

Hess repeated the same information we already knew.  90k net acres largely in the condensate window.  They will drill 15 wells in 2011.  They have no comment on where they are exactly, and they will drill their first horizontal wells in the 2Q2011.

This gets me to thinking of some of the potential Eagle Ford acreage for sale, or JV.  We obviously use the Drillinginfo leasing tool on a regular basis to help identify potential targets based on their position relative to offset production and internal geological studies.  This internal analysis is largely for clients only, but DI subscribers can use the extensive leasing tool in conjunction with their expertise to gain more insight into potential opportunites.

Here are a few examples of the leasing tool in its most basic form to identify potential acquisitions.  The first is Buffco, which I know was for sale for the better part of last year and may still be.  The second is Initial Energy/ZaZa, I lump them together in La Salle because ZaZa has permitted on Initial Energy leases.  ZaZa just spud their first wells in November in NW La Salle as I wrote about earlier.

No New Hess News, Buffco & ZaZa, EOG Well Level Data

No New Hess News, Buffco & ZaZa, EOG Well Level Data

Oil Pending Data

I want to quickly show some interesting data we just got in, Eagle Ford pending oil window well level data.  Oil production data in Texas allocated to the lease level, making Eagle Ford oil projections difficult at least in these early days.  However, pending data is released before the wells are given a lease number (difficult complex process from the RRC).  Here is a table of some EOG Eagle Ford oil pending data, presumably on the well level.  These are 30-day max monthly production averages.

No New Hess News, Buffco & ZaZa, EOG Well Level Data

The EOG wells with oil production of 400+ BOPD, even up to 1000+ BOPD is very impressive and a good sign of things to come for EOG and the oil window in particular.  Stay tuned…

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