Let’s just jump right in… EOG started off the Barnett Shale part of their April 7th, 2010 presentation with some details about their current activity in their Barnett gas play. They currently have 350,000 net acres and plan to drill 50 wells with a 3-rig program. They reported their direct finding cost at around $1.25/Mcfe and have a 10-15 year drilling inventory. They are using multi-well development patterns taking advantage of lateral spacing and well depth. One example EOG highlighted is their Wilson development in Johnson Co. that they put 5 wells on 35 acre spacing. The result was a gas-in-place recovery factor of 41.6%, a 14.8 Bcf net after royalty estimate and a direct finding cost of $1.01/Mcfe.
Next EOG provided more details about their Barnett Combo Play in the northern part of the Barnett Shale. They added a “Combo Core Area” to their infamous Barnett map that now outlines the expansion of their core area from 90,000 net acres to 125,000 net acres.
A vertical drilling section is also highlighted in another map in the eastern part of the combo core, mainly in Cooke County.
EOG is currently running a 9-rig program in the play but expect 14 rigs by year end. They expect to drill 234 wells in 2010 and the wells are split 50/50 between vertical and horizontal. They are using multi-well development patterns, similar to their Johnson Co. gas developments, which are maximizing recovery, improving resources per well and lowering costs. Their continuous improvement in completion technology is a testimony to their continuing success in the Barnett Shale.
To learn more visit the EOG Folder in the DI Unconventional Updates in DNA.
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