By Andrea: http://oilshalegas.com
Evolution Petroleum Corp. (EPM) recently released an operational update on the Eagle Ford Shale, located in Leed and Fayette Counties. In response to a question inquiring about their involvement of the Eagle Ford to the Austin Chalk formation, CEO, Bob Herlin states:
"Eagle Ford is being tested by a variety of operators and what we preferred to be the stop list portion in the Giddings Field. Now with the – that we've heard activity up into Fayette County, where I know there’s some things going on the Leed County. There has been some test I believe further to northeast. I don't think industry is quite yet cracked the code on making Eagle Ford work that far to northeast.
Obviously, we hold a lot of acreage in the Giddings Field that is held by production or will be held by production, that's not on under current primary term or through expansions. Are there people lined up in my door warning to form out our Eagle Ford, right? No. But we – I can't say it will or it won’t down the road."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Showing posts with label fayette county. Show all posts
Showing posts with label fayette county. Show all posts
Tuesday, December 28, 2010
Tuesday, November 30, 2010
Marathon Oil (MRO) Eagle Ford Shale - Atascosa County
By Tim - http://oilshalegas.com
Marathon Oil Corporation (MRO) is getting involved in the Eagle Ford Shale specifically in Wilson County Texas and Atascosa County Texas.
Marathon Enters Eagle Ford Shale Play - Entry Builds on Company's Strategy Targeting Unconventional, Liquids-Rich Resource Plays.
Nov. 29, 2010 - Marathon Oil Corporation (NYSE: MRO) announced today that it has completed an agreement with Denali Oil & Gas for entry into the Eagle Ford Shale formation in Wilson and Atascosa counties, Texas. Under the terms of the agreement, Marathon will pay Denali $10 million as well as drill and complete four wells to earn approximately 17,000 net acres. Marathon also has the option to purchase Denali's remaining 58,000 net acres in the Eagle Ford Shale in these two counties. If Marathon executes this option, the full 75,000 net acres, including the initial payment, carried well interest and lease extensions, will cost approximately $2,800 per acre or a total of approximately $209 million. Marathon has until Oct. 31, 2011, to exercise this option.
In the event Marathon does not exercise its purchase option, Denali has the option to sell the remaining 58,000 acres to Marathon. The total cost under this option, including the initial payment, carried well interest and lease extensions, would be $92 million or approximately $1,225 per acre. Denali has until the later of Nov. 15, 2011, or 15 days after the completion of the final well, to exercise this option. This agreement covers all of Denali's acreage in Wilson and Atascosa counties but excludes Denali's 25,000 acres in Gonzales and Fayette counties.
"Since acquiring our first shale assets in the onshore U.S. market in 2006, Marathon has developed substantial expertise that we can apply to emerging plays like the Eagle Ford and create more opportunities for mid- and long-term profitable production growth," said Dave Roberts, the Company's executive vice president, Upstream. "This new entry reinforces a key element of our Upstream strategy of targeting unconventional, primarily liquids-rich resource plays providing low-risk, scalable growth."
http://www.marathon.com/News/Press_Releases/Press_Release/?id=1500637
For more shale updates, visit http://blackberrystocks.blogspot.com
Marathon Oil Corporation (MRO) is getting involved in the Eagle Ford Shale specifically in Wilson County Texas and Atascosa County Texas.
Marathon Enters Eagle Ford Shale Play - Entry Builds on Company's Strategy Targeting Unconventional, Liquids-Rich Resource Plays.
Nov. 29, 2010 - Marathon Oil Corporation (NYSE: MRO) announced today that it has completed an agreement with Denali Oil & Gas for entry into the Eagle Ford Shale formation in Wilson and Atascosa counties, Texas. Under the terms of the agreement, Marathon will pay Denali $10 million as well as drill and complete four wells to earn approximately 17,000 net acres. Marathon also has the option to purchase Denali's remaining 58,000 net acres in the Eagle Ford Shale in these two counties. If Marathon executes this option, the full 75,000 net acres, including the initial payment, carried well interest and lease extensions, will cost approximately $2,800 per acre or a total of approximately $209 million. Marathon has until Oct. 31, 2011, to exercise this option.
In the event Marathon does not exercise its purchase option, Denali has the option to sell the remaining 58,000 acres to Marathon. The total cost under this option, including the initial payment, carried well interest and lease extensions, would be $92 million or approximately $1,225 per acre. Denali has until the later of Nov. 15, 2011, or 15 days after the completion of the final well, to exercise this option. This agreement covers all of Denali's acreage in Wilson and Atascosa counties but excludes Denali's 25,000 acres in Gonzales and Fayette counties.
"Since acquiring our first shale assets in the onshore U.S. market in 2006, Marathon has developed substantial expertise that we can apply to emerging plays like the Eagle Ford and create more opportunities for mid- and long-term profitable production growth," said Dave Roberts, the Company's executive vice president, Upstream. "This new entry reinforces a key element of our Upstream strategy of targeting unconventional, primarily liquids-rich resource plays providing low-risk, scalable growth."
http://www.marathon.com/News/Press_Releases/Press_Release/?id=1500637
For more shale updates, visit http://blackberrystocks.blogspot.com
Friday, October 15, 2010
Fayette County, Texas; Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
GeoResources Inc. (GEOI) recently released an operational update noting the acquirement of new land acreage in the Eagle Ford Shale in Southwest Fayette County, Texas:
They have assembled approximately 22,000 net acres in the Eagle Ford trend of Texas and entered into agreements with Ramshorn Investments, Inc., an affiliate of Nabors Industries LTD, to jointly acquire additional acreage and implement a drilling and development program. A wholly-owned subsidiary of GeoResources, Inc. retains a 50% working interest (currently about 11,000 net acres) and will serve as operator within an Area of Mutual Interest, located in Southwest Fayette County, Texas, which covers approximately 140,000 acres. Pursuant to the Participation and Joint Operating Agreements, Ramshorn has purchased a 50% interest in the acreage and will drill six horizontal obligation wells for the joint account. In addition, the parties have agreed to acquire additional acreage within the AMI. They intend to begin drilling as soon as reasonably possible, perhaps by the end of 2010.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
GeoResources Inc. (GEOI) recently released an operational update noting the acquirement of new land acreage in the Eagle Ford Shale in Southwest Fayette County, Texas:
They have assembled approximately 22,000 net acres in the Eagle Ford trend of Texas and entered into agreements with Ramshorn Investments, Inc., an affiliate of Nabors Industries LTD, to jointly acquire additional acreage and implement a drilling and development program. A wholly-owned subsidiary of GeoResources, Inc. retains a 50% working interest (currently about 11,000 net acres) and will serve as operator within an Area of Mutual Interest, located in Southwest Fayette County, Texas, which covers approximately 140,000 acres. Pursuant to the Participation and Joint Operating Agreements, Ramshorn has purchased a 50% interest in the acreage and will drill six horizontal obligation wells for the joint account. In addition, the parties have agreed to acquire additional acreage within the AMI. They intend to begin drilling as soon as reasonably possible, perhaps by the end of 2010.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Thursday, August 19, 2010
Fayette County, Texas: Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Eureka Energy (EKA) announced that a wholly-owned US subsidiary of Eureka has signed an option agreement to acquire a 100% working interest of a 761.5 acre block of leases on the eastern extension of the Eagle Ford trend in Texas. The new lease is located in Fayette County, Texas. Eureka believes that this block of land has potential to produce oil. Eureka intends to seek out a partner to fund drilling and acquisition costs for the new block of land.
Read full story here:
http://www.onenewspage.com/news/Business/20100811/13934252/Eureka-Energy-acquires-option-on-new-oil-acreage.htm
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Eureka Energy (EKA) announced that a wholly-owned US subsidiary of Eureka has signed an option agreement to acquire a 100% working interest of a 761.5 acre block of leases on the eastern extension of the Eagle Ford trend in Texas. The new lease is located in Fayette County, Texas. Eureka believes that this block of land has potential to produce oil. Eureka intends to seek out a partner to fund drilling and acquisition costs for the new block of land.
Read full story here:
http://www.onenewspage.com/news/Business/20100811/13934252/Eureka-Energy-acquires-option-on-new-oil-acreage.htm
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Saturday, December 20, 2008
Marcellus Shale: ATN Atlas Energy Washington PA
Atlas Energy ( ATN ) has come out and given shareholders a drilling update on the Marcellus Shale. Atlas Energy is currently active in the following Pa counties: Washington, Greene, Fayette.
Atlas Energy ATN announces today that it has completed a vertical well in the Marcellus Shale that produced a record 5 million cubic feet of natural gas into a pipeline over a 24-hour period and, after 25 days of production, has produced approximately 81 million cubic feet. Atlas completed this well using a two-stage frac design that it pioneered earlier this year, which was drilled on the Company's own account. The Company has now successfully completed seven two-stage vertical fracs in the Marcellus Shale and has averaged initial rates of production for 24 hours of 2.5 million cubic feet per day. The Company intends to complete all future vertical Marcellus wells with similar multi-stage fracs. Atlas has performed over 100 vertical Marcellus completions.
"These results reflect not only the effectiveness of our completion designs, but also the quality of our acreage," stated Richard D. Weber, President and Chief Operating Officer. "The potential of horizontal wells having frac designs with up to eight stages is very exciting given the exceptional results from our two stage verticals."
Atlas is also currently operating an extensive horizontal Marcellus program and expects to complete 12 wells by early in the second quarter of 2009. Ten of these wells will be drilled in a 50/50 joint venture with an industry partner in Washington County, Pennsylvania. The remaining two wells will be drilled in eastern Greene and western Fayette counties of Pennsylvania in an industry consortium where Atlas will have a 25% working interest. In each case, Atlas will be the operator. The Company is currently running two horizontal rigs. The first two wells have been drilled and cased to 2,400 feet and 3,800 feet, respectively, and will be completed and turned into line in January.
In addition, Atlas continues to hedge the price it receives for its natural gas production, with hedges in place through 2013 at prices ranging from approximately $8.00 to $9.00 per mcf. The Company's hedge positions for 2009 and 2010 account for approximately 79% and 63%, respectively, of its recently disclosed production volume for the third quarter of 2008.
http://phx.corporate-ir.net/phoenix.zhtml?c=202140&p=irol-newsArticle&ID=1238096&highlight=
Click Here for the latest Marcellus Shale Updates.
Atlas Energy ATN announces today that it has completed a vertical well in the Marcellus Shale that produced a record 5 million cubic feet of natural gas into a pipeline over a 24-hour period and, after 25 days of production, has produced approximately 81 million cubic feet. Atlas completed this well using a two-stage frac design that it pioneered earlier this year, which was drilled on the Company's own account. The Company has now successfully completed seven two-stage vertical fracs in the Marcellus Shale and has averaged initial rates of production for 24 hours of 2.5 million cubic feet per day. The Company intends to complete all future vertical Marcellus wells with similar multi-stage fracs. Atlas has performed over 100 vertical Marcellus completions.
"These results reflect not only the effectiveness of our completion designs, but also the quality of our acreage," stated Richard D. Weber, President and Chief Operating Officer. "The potential of horizontal wells having frac designs with up to eight stages is very exciting given the exceptional results from our two stage verticals."
Atlas is also currently operating an extensive horizontal Marcellus program and expects to complete 12 wells by early in the second quarter of 2009. Ten of these wells will be drilled in a 50/50 joint venture with an industry partner in Washington County, Pennsylvania. The remaining two wells will be drilled in eastern Greene and western Fayette counties of Pennsylvania in an industry consortium where Atlas will have a 25% working interest. In each case, Atlas will be the operator. The Company is currently running two horizontal rigs. The first two wells have been drilled and cased to 2,400 feet and 3,800 feet, respectively, and will be completed and turned into line in January.
In addition, Atlas continues to hedge the price it receives for its natural gas production, with hedges in place through 2013 at prices ranging from approximately $8.00 to $9.00 per mcf. The Company's hedge positions for 2009 and 2010 account for approximately 79% and 63%, respectively, of its recently disclosed production volume for the third quarter of 2008.
http://phx.corporate-ir.net/phoenix.zhtml?c=202140&p=irol-newsArticle&ID=1238096&highlight=
Click Here for the latest Marcellus Shale Updates.
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