Saturday, February 25, 2012

EOG Resources (EOG) - Barnett Shale

By Tim -

EOG Resources (EOG) - Barnett Shale Combo Play - Oil Field Texas

EOG Resources (EOG) is out with their Barnett Shale Combo Play update. The Barnett Shale combo play is a zone of oil and natural gas.

In the Fort Worth Barnett Shale Combo, EOG's second largest driver of liquids growth during 2011, total liquids production increased 107 percent compared to 2010, driven by a 124 percent increase in crude oil and condensate production. In Montague County, a pattern of five horizontal wells, the Badger A Unit #1H, B Unit #2H, C Unit #3H, D Unit #4H and E Unit #5H showed initial peak oil production rates ranging from 525 to 659 Bopd with 106 to 205 Bpd of NGLs and 704 to 1,361 Mcfd (thousand cubic feet per day) of natural gas per well. EOG has 100 percent working interest in the wells, which had an average peak crude oil production rate of 604 Bopd per well. A series of 10 McKown wells drilled in Cooke County, began producing to sales at an average oil rate of 689 Bopd, with 210 Bpd of NGLs and 1.4 MMcfd of natural gas per well. EOG has 93 percent working interest in these wells. During 2011, EOG expanded its core holdings in the Barnett Combo by approximately 25,000 acres to 200,000 net acres. Following the success of its drilling program last year, EOG expects the Barnett Combo to be its second largest liquids production growth contributor again in 2012.