Crockett County, TX - Wolfcamp Shale

By Tim - http://oilshalegas.com

EOG Resources (EOG) is currently drilling for oil in the Permian Basin, Midland Basin, and the Wolfcamp Shale.

In the West Texas Permian Basin, EOG increased drilling activity in the Wolfcamp formation during the second half of 2011 in preparation for a more active year in 2012. EOG reported success from the upper Wolfcamp zone. The University 9 #2803H in Reagan County, 25 miles west of its current middle Wolfcamp activity began production at 883 Bopd with 68 Bpd of NGLs and 388 Mcfd of natural gas. EOG has a 100 percent working interest in the well. In Irion County, the University 43 #0902H and 40A #0402H were completed in the middle Wolfcamp zone at initial oil rates of 1,088 and 1,076 Bopd, respectively. In addition to the strong oil production, the wells were turned to sales with 86 and 129 Bpd of NGLs and 489 and 736 Mcfd of natural gas, respectively. EOG has 90 and 85 percent working interest in the wells, respectively.

On the border between Irion and Crockett counties, the University 40 #1309H and 38 #0601H began production at 1,738 and 1,077 Bopd with 137 and 119 Bpd of NGLs and 779 and 678 Mcfd of natural gas, respectively. EOG has 88 percent working interest in these wells. EOG plans to operate a four-rig drilling program in the Wolfcamp during 2012.

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http://www.oilshalegas.com/permianbasinoil.html

http://oilshalegas.com/wolfcampshale.html

EOG Resources (EOG) - Wolfcamp Shale

By Tim - http://oilshalegas.com

EOG Resources (EOG) is currently drilling for oil in the Permian Basin, Midland Basin, and the Wolfcamp Shale.

In the West Texas Permian Basin, EOG increased drilling activity in the Wolfcamp formation during the second half of 2011 in preparation for a more active year in 2012. EOG reported success from the upper Wolfcamp zone. The University 9 #2803H in Reagan County, 25 miles west of its current middle Wolfcamp activity began production at 883 Bopd with 68 Bpd of NGLs and 388 Mcfd of natural gas. EOG has a 100 percent working interest in the well. In Irion County, the University 43 #0902H and 40A #0402H were completed in the middle Wolfcamp zone at initial oil rates of 1,088 and 1,076 Bopd, respectively. In addition to the strong oil production, the wells were turned to sales with 86 and 129 Bpd of NGLs and 489 and 736 Mcfd of natural gas, respectively. EOG has 90 and 85 percent working interest in the wells, respectively. On the border between Irion and Crockett counties, the University 40 #1309H and 38 #0601H began production at 1,738 and 1,077 Bopd with 137 and 119 Bpd of NGLs and 779 and 678 Mcfd of natural gas, respectively. EOG has 88 percent working interest in these wells. EOG plans to operate a four-rig drilling program in the Wolfcamp during 2012.

http://blackberrystocks.blogspot.com/

http://www.oilshalegas.com/permianbasinoil.html

http://oilshalegas.com/wolfcampshale.html

EOG Resources (EOG) - Permian Basin

By Tim - http://oilshalegas.com

EOG Resources (EOG) is currently drilling for oil in the Permian Basin, Midland Basin, and the Wolfcamp Shale.

In the West Texas Permian Basin, EOG increased drilling activity in the Wolfcamp formation during the second half of 2011 in preparation for a more active year in 2012. EOG reported success from the upper Wolfcamp zone. The University 9 #2803H in Reagan County, 25 miles west of its current middle Wolfcamp activity began production at 883 Bopd with 68 Bpd of NGLs and 388 Mcfd of natural gas. EOG has a 100 percent working interest in the well. In Irion County, the University 43 #0902H and 40A #0402H were completed in the middle Wolfcamp zone at initial oil rates of 1,088 and 1,076 Bopd, respectively. In addition to the strong oil production, the wells were turned to sales with 86 and 129 Bpd of NGLs and 489 and 736 Mcfd of natural gas, respectively. EOG has 90 and 85 percent working interest in the wells, respectively. On the border between Irion and Crockett counties, the University 40 #1309H and 38 #0601H began production at 1,738 and 1,077 Bopd with 137 and 119 Bpd of NGLs and 779 and 678 Mcfd of natural gas, respectively. EOG has 88 percent working interest in these wells. EOG plans to operate a four-rig drilling program in the Wolfcamp during 2012.

In the New Mexico Leonard Shale, EOG reported drilling success from Lea County with the Caballo 23 Fed #4H and #6H. The wells, in which EOG has 86 percent working interest, initially produced at 932 and 750 Bopd with 116 and 99 Bpd of NGLs and 636 and 545 Mcfd of natural gas, respectively. During 2012, EOG is positioned to increase its drilling activity in the Leonard Shale with a year-long two-rig program.

http://blackberrystocks.blogspot.com/

http://www.oilshalegas.com/permianbasinoil.html

http://oilshalegas.com/wolfcampshale.html

Cooke County, Texas - Barnett Shale Oil Field

By Tim - http://oilshalegas.com

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.

http://blackberrystocks.blogspot.com/

http://oilshalegas.com/barnettshale.html

Montague County, Texas - Barnett Shale

By Tim - http://oilshalegas.com

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.

http://blackberrystocks.blogspot.com/

http://oilshalegas.com/barnettshale.html

Reagan County, TX - Wolfcamp Shale

By Tim - http://oilshalegas.com

EOG Resources (EOG) is currently drilling for oil in the Permian Basin, Midland Basin, and the Wolfcamp Shale.

In the West Texas Permian Basin, EOG increased drilling activity in the Wolfcamp formation during the second half of 2011 in preparation for a more active year in 2012. EOG reported success from the upper Wolfcamp zone.

The University 9 #2803H in Reagan County, 25 miles west of its current middle Wolfcamp activity began production at 883 Bopd with 68 Bpd of NGLs and 388 Mcfd of natural gas. EOG has a 100 percent working interest in the well."

In Irion County, the University 43 #0902H and 40A #0402H were completed in the middle Wolfcamp zone at initial oil rates of 1,088 and 1,076 Bopd, respectively. In addition to the strong oil production, the wells were turned to sales with 86 and 129 Bpd of NGLs and 489 and 736 Mcfd of natural gas, respectively. EOG has 90 and 85 percent working interest in the wells, respectively. On the border between Irion and Crockett counties, the University 40 #1309H and 38 #0601H began production at 1,738 and 1,077 Bopd with 137 and 119 Bpd of NGLs and 779 and 678 Mcfd of natural gas, respectively. EOG has 88 percent working interest in these wells. EOG plans to operate a four-rig drilling program in the Wolfcamp during 2012.

http://blackberrystocks.blogspot.com/

http://www.oilshalegas.com/permianbasinoil.html

http://oilshalegas.com/wolfcampshale.html

Irion County, TX - Wolfcamp Shale

By Tim - http://oilshalegas.com

EOG Resources (EOG) is currently drilling for oil in the Permian Basin, Midland Basin, and the Wolfcamp Shale.

In the West Texas Permian Basin, EOG increased drilling activity in the Wolfcamp formation during the second half of 2011 in preparation for a more active year in 2012. EOG reported success from the upper Wolfcamp zone. The University 9 #2803H in Reagan County, 25 miles west of its current middle Wolfcamp activity began production at 883 Bopd with 68 Bpd of NGLs and 388 Mcfd of natural gas. EOG has a 100 percent working interest in the well.

In Irion County, the University 43 #0902H and 40A #0402H were completed in the middle Wolfcamp zone at initial oil rates of 1,088 and 1,076 Bopd, respectively. In addition to the strong oil production, the wells were turned to sales with 86 and 129 Bpd of NGLs and 489 and 736 Mcfd of natural gas, respectively. EOG has 90 and 85 percent working interest in the wells, respectively. On the border between Irion and Crockett counties, the University 40 #1309H and 38 #0601H began production at 1,738 and 1,077 Bopd with 137 and 119 Bpd of NGLs and 779 and 678 Mcfd of natural gas, respectively. EOG has 88 percent working interest in these wells. EOG plans to operate a four-rig drilling program in the Wolfcamp during 2012.

http://blackberrystocks.blogspot.com/

http://www.oilshalegas.com/permianbasinoil.html

http://oilshalegas.com/wolfcampshale.html

EOG Resources (EOG) - Barnett Shale

By Tim - http://oilshalegas.com

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.

http://blackberrystocks.blogspot.com/

http://oilshalegas.com/barnettshale.html

Devon Energy (DVN) - Permian Basin Update

By Tim - http://oilshalegas.com

Devon Energy (DVN) is currently drilling for oil in the Permian Basin, Midland Basin, and the Bone Spring Shale play. Devon Energy (DVN) is one of the leaders in the Bone Spring Formation.

In the Permian Basin, Devon increased oil and natural gas liquids production 22 percent compared to the fourth-quarter 2010. Liquids production accounted for nearly 75 percent of the 53,000 equivalent barrels per day produced in the Permian Basin during the quarter.

The company completed eight operated Bone Spring wells within the Permian Basin in the fourth quarter. Initial daily production from the eight wells averaged more than 600 Boe per day per well.

From the recent conference call - February 2012

Mark Gilman - The Benchmark Company, LLC, Research Division

Okay. My follow-up, Dave, relates primarily to the Bone Springs in the Permian, an area where, in the recent past, results have been pretty good. I wonder if you could update us. I didn't hear you specifically mention Bone Springs activity in your review of the quarter.

David A. Hager

Well, we've had a number of good Bone Springs wells in the quarter. I think we highlighted, actually, in the earnings release that we had a number of good Bone Springs wells on the order of around 600 barrels a day or so that we achieved out there. I think we had 8 wells average more than 600 barrels per day, 8 operated wells in the fourth quarter that achieved more than 600 barrels a day so we're seeing very good results out there. We see a good inventory of opportunities sitting out there. We estimate we probably have 350 to 400 locations remaining in the Bone Springs just on our existing inventory and will probably drill somewhere around 80 this year. So again, you can see 4- to 5-year inventory of Bone Springs opportunities.

http://blackberrystocks.blogspot.com/

http://www.oilshalegas.com/permianbasinoil.html

http://www.bonespring.com

Utica Shale - Devon Energy (DVN)

By Tim - http://oilshalegas.com

Utica Shale News - Devon Energy (DVN) provides an update on the Utica Shale located in Ohio.

In the Ohio Utica, Devon and Sinopec have assembled 235,000 net acres in the play. We just TD-ed our first horizontal well, the first of 15 horizontal wells that we expect to drill here this year. While we are still in the early stages of evaluating these plays, we have seen positive subsurface data and encouraging rate indications in several of them. By the end of 2012, we expect to have drilled approximately 125 wells in aggregate across these 5 plays, giving us a much better understanding of the potential of these positions.

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http://oilshalegas.com/uticashale.html

Spraberry Oil Field in West Texas - Pioneer Natural Resources (PXD)

By Tim - http://oilshalegas.com

Pioneer Natural Resources (PXD) - Spraberry Oil Field in West Texas

Pioneer Natural Resources (PXD) recently gave comments about the Spraberry Oil Field located in West Texas. It seems as though they are seeing a lot of oil recovery from their wells.

“In the Spraberry oil field in West Texas, Pioneer is currently operating 44 rigs, of which 41 are drilling vertical wells (including 15 Company-owned rigs) and three are drilling horizontal wells. The Company drilled 690 wells in 2011 and placed 640 wells on production. The Company has continued to expand its integrated services to control drilling costs and support the execution of its drilling program. Five Company-owned fracture stimulation fleets totaling 100,000 horsepower are currently operating in the Spraberry field supporting vertical drilling operations. An additional 10,000 horsepower will be added to these five fleets by mid-year. Two additional fleets totaling 60,000 horsepower will be added by mid-year 2012 to support Pioneer’s horizontal drilling program in the Wolfcamp Shale. The Company also owns other oil field service equipment, including pulling units, fracture stimulation tanks, water transport trucks, hot oilers, blowout preventers, construction equipment and fishing tools. In addition, the Company has contracted for tubular and pumping unit requirements through 2012 and well cementing services through 2016.”

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http://www.spraberryoil.com

Niobrara Shale - Devon Energy (DVN)

By Tim - http://oilshalegas.com

Devon Energy (DVN) is currently drilling for oil in the Niobrara Shale Formation located in Colorado and Wyoming.

In the Niobrara, industry results to date have been mixed and somewhat challenged in some areas, but we are still in the early stages of evaluating our acreage. However, we recently completed our first well in the Turner formation on our Niobrara acreage with encouraging results. After being online for 22 days, the Waterbuck 2342 had averaged 427 barrels of oil equivalent per day. In addition to the Niobrara and Turner formations, we expect to drill Cordell, Mowry and Frontier wells in our Powder River and DJ Basin acreage this year. In total, we expect to have 35 wells drilled here by year end.

http://blackberrystocks.blogspot.com/

http://oilshalegas.com/niobrarashale.html

Bone Spring Shale - Devon Energy (DVN)

By Tim - http://oilshalegas.com

Devon Energy (DVN) is currently drilling for oil in the Permian Basin, Midland Basin, and the Bone Spring Shale play. Devon Energy (DVN) is one of the leaders in the Bone Spring Formation.

In the Permian Basin, Devon increased oil and natural gas liquids production 22 percent compared to the fourth-quarter 2010. Liquids production accounted for nearly 75 percent of the 53,000 equivalent barrels per day produced in the Permian Basin during the quarter.

The company completed eight operated Bone Spring wells within the Permian Basin in the fourth quarter. Initial daily production from the eight wells averaged more than 600 Boe per day per well.

From the recent conference call - February 2012

Mark Gilman - The Benchmark Company, LLC, Research Division

Okay. My follow-up, Dave, relates primarily to the Bone Springs in the Permian, an area where, in the recent past, results have been pretty good. I wonder if you could update us. I didn't hear you specifically mention Bone Springs activity in your review of the quarter.

David A. Hager

Well, we've had a number of good Bone Springs wells in the quarter. I think we highlighted, actually, in the earnings release that we had a number of good Bone Springs wells on the order of around 600 barrels a day or so that we achieved out there. I think we had 8 wells average more than 600 barrels per day, 8 operated wells in the fourth quarter that achieved more than 600 barrels a day so we're seeing very good results out there. We see a good inventory of opportunities sitting out there. We estimate we probably have 350 to 400 locations remaining in the Bone Springs just on our existing inventory and will probably drill somewhere around 80 this year. So again, you can see 4- to 5-year inventory of Bone Springs opportunities.

http://blackberrystocks.blogspot.com/

http://www.oilshalegas.com/permianbasinoil.html

http://www.bonespring.com

Barnett Shale Combo Play - Oil Field

By Tim - http://oilshalegas.com

Pioneer Natural Resources (PXD) - Barnett Shale Combo Play - Oil Field Texas

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

In the liquids-rich Barnett Shale Combo play, Pioneer has built a 78,000 net acreage position, representing more than 1,000 drilling locations. The Company drilled 43 wells in 2011 and placed 42 wells on production. Pioneer operated two rigs in the play for much of 2011 and plans to remain at this level through 2012. The Company expects to increase to four rigs in 2013.

Production in the fourth quarter for the Barnett Shale Combo play was 6 MBOEPD, up from 4 MBOEPD in the third quarter. The Company expects production to increase from an average of 4 MBOEPD in 2011 to 7 MBOEPD to 9 MBOEPD in 2012 under the current two-rig program. With the expected increase to four rigs in 2013, production is forecasted to grow to 12 MBOEPD to 16 MBOEPD in 2013 and 18 MBOEPD to 23 MBOEPD in 2014. Production is comprised of 60% liquids (oil and NGLs) and 40% gas.

Pioneer’s internal rate of return in the Barnett Shale Combo play is expected to be 30% before tax. This assumes a targeted per-well drilling cost of $3.5 million for 5,000-foot lateral wells, a gross EUR of 460 MBOE and flat commodity prices of $100 per barrel for oil and $4 per MCF for gas. The internal rate of return has been impacted by the low gas price environment.

http://blackberrystocks.blogspot.com/

http://oilshalegas.com/barnettshale.html

Cardium Shale - Devon Energy (DVN) Hits Oil in Canada

By Tim - http://oilshalegas.com

November 6, 2011 - Devon Energy (DVN) has released an update on drilling in the Cardium Shale located in Canada. The Cardium Shale is an emerging oil shale play which we will start to hear more about in the coming years, especially if oil prices hit record highs.

Cardium Shale wells produce 770 BOE per day

"Also in Canada, Devon completed 19 exploration wells targeting oil and liquids-rich opportunities across its more than 4 million net acres in the Western Canadian Sedimentary Basin. The company tied in 10 of these wells to production in the third quarter. This activity was highlighted by results in the Ferrier area where the company commenced production on three Cardium wells with initial production averaging 770 Boe per day per well."

Shale News

OilShaleGas.com

Oil Production Rates - Eagle Ford Shale - Carrizo Oil & Gas CRZO

By Tim - http://oilshalegas.com

Carrizo Oil & Gas (CRZO) has come out an given an update on their Eagle Ford Shale well production.

Carrizo Oil & Gas Announces Initial Production Rates for Its First Two Eagle Ford Shale Wells and Updates Niobrara Activity.

11/30/2010 -- Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) today is providing an operational update on the Company's activities in the Eagle Ford Shale and Niobrara Formation. Carrizo's initial two Eagle Ford Shale wells were drilled from a common surface location in central La Salle County, Texas. The Mumme Ranch 10H was drilled with a 5,493 foot horizontal leg and was completed with 15 frac stages. The Mumme Ranch 12H was drilled with a 5,455 foot horizontal leg and was completed with 19 frac stages. Following the flow-back of completion fluids, the two wells were tested for production potential beginning on November 20, 2010. The Mumme 10H had a 24-hour initial production rate of 1,011 barrels of oil per day ("Bopd") while the Mumme 12H had a 24-hour initial production rate of 1,220 Bopd. Production from this two-well pad appears to have stabilized at the current combined rate of approximately 1,125 barrels of oil per day. Approximately 2 million cubic feet per day of 1,367 btu per mcf natural gas is currently being flared pending connection to a gas gathering pipeline. Carrizo has a 100% working interest and a 75% net revenue interest in these two wells.

Hydraulic fracture stimulation activities have been completed on the Company's next Eagle Ford well, the Pierce 10H, located to the southwest of the Mumme wells, and the well has commenced flow-back today. It is currently anticipated that initial production results for this well should be available before the end of the year. Carrizo owns approximately 20,000 net acres in the Eagle Ford Shale play, the majority of which are located in the condensate window of La Salle, Dimmit, and McMullen Counties. In addition to the three wells mentioned in this announcement, Carrizo has drilled two other Eagle Ford horizontal wells in La Salle County which are currently waiting on completion, expected to begin in the first quarter of 2011.

http://www.easyir.com/easyir/prssrel.do?easyirid=5973FCB26450FFF1&version=live&prid=692025

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