Eagle Ford operators have now removed their self-issued gag orders and information about the Eagle Ford play is now flowing to the industry. One of the prevalent topics surrounding the Eagle Ford and popping up in operator presentations is the three producing windows; dry gas, wet gas and oil. Two big players, EOG and Petrohawk, have recently released maps that outline these windows. Using those maps, and some internal analysis, we are able to see that a substantial portion of production in the Eagle Ford, roughly two-thirds, is in the liquid rich windows.
This has been a key factor in how attractive this play is to operators considering the current prices of oil vs. the price of gas and the play can give operators the opportunity to hedge their production positions. We can see that throughout the play operators are taking advantage of this idea.
Although a lot of the Eagle Ford activity is still in its infancy we can at least see an initial trend developing with the push to produce in the liquid-rich areas of this South Texas play.
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