By Andrea: http://oilshalegas.com
Comstock Resources Inc. (CRK) has initiated development of its Eagle Ford shale acreage in Atascosa, Karnes and McMullen counties in South Texas. Comstock has drilled the Rancho Tres Hijos #1H in McMullen county to a vertical depth of 11,020 feet with a 4,091 lateral and has drilled the NWR #1H in Atascosa county to a vertical depth of 8,715 feet with a 5,209 foot lateral. These wells are scheduled for completion in November. Comstock is currently drilling its third Eagle Ford shale well in Karnes county.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Showing posts with label Atascosa County. Show all posts
Showing posts with label Atascosa County. Show all posts
Tuesday, January 4, 2011
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
Sunday, August 15, 2010
Karnes County, TX: Eagle Ford Shale
By Andrea: http://oilshalegas.com
Comstock Resources Inc. (CRK) has acquired or is in the process of closing on 18,000 net acres that they feel are prospective for development in the emerging Eagle Ford Shale play in Karnes, McMullen, and Atascosa counties in South Texas. They are focusing primarily on the oil and condensate windows in this play due to the better economics of oil versus natural gas. They hope to acquire additional 10,000 net acres in our focus area. Given expected well spacing of 80,000 acres and an expected per well recovery of 400,000 barrels of oil per well, Comstock's acreage could have 67 million barrels of oil equivalent of reserve potential. They plan to move one of their Haynesville rigs to the South East Texas region and expect to drill three Eagle Ford Shale wells on the acreage by the end of this year.
In 2011 after they have completed their leasing activities, they plan to have a two to three rig program to develop their Eagle Ford Shale acreage.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Friday, August 13, 2010
Atascosa County, Texas: Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Comstock Resources Inc. (CRK) has acquired or is in the process of closing on 18,000 net acres that they feel are prospective for development in the emerging Eagle Ford Shale play in Karnes, McMullen, and Atascosa counties in South Texas. They are focusing primarily on the oil and condensate windows in this play due to the better economics of oil versus natural gas. They hope to acquire additional 10,000 net acres in our focus area. Given expected well spacing of 80,000 acres and an expected per well recovery of 400,000 barrels of oil per well, Comstock's acreage could have 67 million barrels of oil equivalent of reserve potential. They plan to move one of their Haynesville rigs to the South East Texas region and expect to drill three Eagle Ford Shale wells on the acreage by the end of this year.
In 2011 after they have completed their leasing activities, they plan to have a two to three rig program to develop their Eagle Ford Shale acreage.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, August 11, 2010
McMullen County, Texas: Eagle Ford Shale update
By Andrea: http://oilshalegas.com
Comstock Resources Inc. (CRK) has acquired or is in the process of closing on 18,000 net acres that they feel are prospective for development in the emerging Eagle Ford Shale play in Karnes, McMullen, and Atascosa counties in South Texas. They are focusing primarily on the oil and condensate windows in this play due to the better economics of oil versus natural gas. They hope to acquire additional 10,000 net acres in our focus area. Given expected well spacing of 80,000 acres and an expected per well recovery of 400,000 barrels of oil per well, Comstock's acreage could have 67 million barrels of oil equivalent of reserve potential. They plan to move one of their Haynesville rigs to the South East Texas region and expect to drill three Eagle Ford Shale wells on the acreage by the end of this year.
In 2011 after they have completed their leasing activities, they plan to have a two to three rig program to develop their Eagle Ford Shale acreage.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Monday, August 2, 2010
Atascosa County, TX: Eagle Ford Shale
By Andrea - http://oilshalegas.com
Cabot Oil & Gas Corporation (COG) and EOG Resources, Inc. (EOG) announced that they will enter into a 50/50 joint venture in Atascosa County, Texas to develop Eagle Ford Shale:
Cabot has entered a 50/50 joint venture agreement with EOG Resources, Inc. to develop approximately 18,000 acres in the mature oil window of the Eagle Ford shale in Atascosa County. Under the terms of the agreement, each party contributed the same amount of acreage and EOG will operate. Dinges added, "We are excited about the location of this acreage and for the opportunity to participate with one of the most experienced, active operators in the trend."
As it relates to this trend outside of this joint venture, Cabot's second operated Eagle Ford well has been drilled and cased with completion operations set to begin in late August-early September. A third operated Eagle Ford effort will spud by month-end.
Full article below:
http://phx.corporate-ir.net/phoenix.zhtml?c=116492&p=irol-newsArticle&ID=1450757&highlight
Cabot Oil & Gas Corporation (COG) and EOG Resources, Inc. (EOG) announced that they will enter into a 50/50 joint venture in Atascosa County, Texas to develop Eagle Ford Shale:
Cabot has entered a 50/50 joint venture agreement with EOG Resources, Inc. to develop approximately 18,000 acres in the mature oil window of the Eagle Ford shale in Atascosa County. Under the terms of the agreement, each party contributed the same amount of acreage and EOG will operate. Dinges added, "We are excited about the location of this acreage and for the opportunity to participate with one of the most experienced, active operators in the trend."
As it relates to this trend outside of this joint venture, Cabot's second operated Eagle Ford well has been drilled and cased with completion operations set to begin in late August-early September. A third operated Eagle Ford effort will spud by month-end.
Full article below:
http://phx.corporate-ir.net/phoenix.zhtml?c=116492&p=irol-newsArticle&ID=1450757&highlight
For more Shale updates, visit http://blackberrystocks.blogspot.com
For more stock market news, visit http://daytradingstockblog.blogspot.com
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