Gonzales County, TX - Eagle Ford Shale

By Tim - http://oilshalegas.com

EOG Resources (EOG) provided an oil & natural gas drilling update in the Eagle Ford Shale play located in Gonzales County, Texas.

EOG's well results in the Eagle Ford continue to lead the industry. In Gonzales County, the Henkhaus Unit #1H, #2H, #3H, #4H, #6H and #7H wells were drilled on a pattern of 65-acre spacing. The six wells were completed to sales at individual initial production rates ranging from 2,424 to 3,733 barrels of oil per day (Bopd) with 442 to 679 barrels per day (Bpd) of natural gas liquids (NGLs) and 2.2 to 3.4 million cubic feet per day (MMcfd) of natural gas per well. The Mitchell Unit #3H, #4H, #5H, #6H, #7H and #8H wells, which were also drilled as down-spaced pilots, began initial production at 2,833 to 3,527 Bopd with 275 to 485 Bpd of NGLs and 1.4 to 2.4 MMcfd of natural gas per well. The Meyer #3H, #4H, #5H, #8H and #9H wells had individual peak oil rates ranging from 1,647 to 2,813 Bopd with 199 to 413 Bpd of NGLs and 1.0 to 2.1 MMcfd of natural gas.

EOG has 100 percent working interest in these 17 Gonzales County wells. "With tremendous resource potential still remaining on our acreage, we continue to test and apply techniques that will increase the oil recovery and potential of the Eagle Ford, our crown jewel. This strategy takes us into the next inning of development. By concentrating our efforts on getting more oil out of the ground early in the development phase, we are taking a good asset and making it great," Papa said. "Looking across the industry, we believe EOG's Eagle Ford position represents the largest domestic net oil discovery in 40 years and the highest rate of return play in North America today."

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http://oilshalegas.com/eaglefordshale.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.

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

http://oilshalegas.com/wolfcampshale.html

Mountrail County, ND - Bakken Shale

By Tim - http://oilshalegas.com

EOG Resources (EOG) recently gave a drilling update in the Bakken Shale.

Consistent with its game plan to increase recovery rates in existing fields, during 2011 EOG continued infill drilling on its core acreage in the North Dakota Bakken Parshall Field, which it discovered in 2006. Although originally developed on 640-acre spacing, EOG has successfully tested 320-acre down-spacing in various areas and around the perimeters of the field. A recent well in Mountrail County, the Fertile 48-0905H, in which EOG has a 96 percent working interest, was completed at an initial rate of 1,324 Bopd. Also in Mountrail County, the Liberty 24-2531H and Liberty LR 20-26H were drilled on 320-acre spacing. The wells, in which EOG has 82 and 95 percent working interest, respectively, were turned to sales at initial crude oil rates of 1,507 and 1,165 Bopd, respectively. Over the course of 2012, EOG will continue its efforts to increase recovery of the oil-in-place on its Bakken acreage through further down-spacing tests and the initiation of a secondary recovery pilot project.

http://blackberrystocks.blogspot.com/

http://bakkenshale.net

Cabot Oil & Gas (COG) - Eagle Ford Shale

By Tim - http://oilshalegas.com

Cabot Oil & Gas (COG) provided an oil & natural gas drilling update in the Eagle Ford Shale play located in South Texas.

Cabot's Eagle Ford activity drove the 68 percent increase in the Company's oil and liquids production between full years 2011 and 2010. This growth came from 29 net wells primarily located in the Company's Buckhorn area in South Texas. Of ten recent well successes, the 24-hour peak production rate for half of the wells has exceeded 1,000 barrels of oil per day, with a 30-day average increasing to around 575 barrels of oil per day. "We have continued our science efforts here to improve realizations in the play with a degree of success including increased EURs, higher reserves per foot completed and increases to initial maximum output rates," commented Dinges. "From these results we expect our oil resource potential to rise again in 2012 as we continue to enhance the play further by exploiting our ability to down-space locations in the field."

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http://oilshalegas.com/eaglefordshale.html

Cabot Oil & Gas (COG) - Marcellus Shale Pennsylvania

By Tim - http://oilshalegas.com

Cabot Oil & Gas (COG) recently reported an operational update on the Marcellus Shale in Pennsylvania.

Cabot's Marcellus effort created a further step change as the Company exited 2011 with field production at 600 Mmcf per day, up from 236 Mmcf per day at the end of 2010 and up nine-fold since the end of 2009. This performance was driven by superior drilling results, including a dozen wells with initial production rates of more than 20 Mmcf per day, and a year where many of Cabot's wells stood out as the top performing wells in Pennsylvania's regulatory filings. For the year, Cabot completed 66 Marcellus wells with a total of 904 frac stages.

Specifically, in data just released by the Pennsylvania Department of Environmental Protection (PaDEP) on cumulative production for the last six months of 2011, Cabot had eight of the top 10 performing wells. In addition, for two of the identified wells, Cabot booked initial estimated ultimate recoverys (EURs) in excess of 20 Bcf each. These two wells, on one pad, have been on production for about 275 days and have cumulative production of 4.5 Bcf each. The Company does have one other well that has exceeded 5.0 Bcf of production since being placed on-line in the summer of 2010. "Also of note, is the result from our first pad drilling effort, which to date has produced 12.5 Bcf in less than 500 days and is still producing about 16 Mmcf per day from three wells," said Dan O. Dinges, Chairman, President and Chief Executive Officer.

http://blackberrystocks.blogspot.com/

http://oilshalegas.com/marcellusshale.html

Noble County, Ohio - Utica Shale

By Tim - http://oilshalegas.com

Utica Shale News - Magnum Hunter Resources Corporation (NYSE: MHR) provides an update on the Utica Shale located in Noble County, Ohio.

Magnum Hunter Resources Corporation (NYSE: MHR) announced today that its wholly-owned subsidiary, Triad Hunter, LLC ("Triad Hunter"), has closed on the acquisition of leasehold mineral interests located predominately in Noble County, Ohio (the "Utica Acreage") from an undisclosed seller for a total purchase price of $24.8 million.

The Utica Acreage consists of approximately 15,558 gross (12,186 net) acres predominately located in Noble County, Ohio. The net price paid per acre for this acquisition was $2,037. The majority of the leasehold acreage acquired in this transaction is held by shallower production. The purchase includes all depths of 300 feet below the top of the Queenston Formation down to all further depths. There is no associated shallow production included with this acquisition. There is a possibility of a second closing on another block of similar acreage that may occur on or before April 16, 2012, assuming the Seller can satisfy certain title deficiency requirements.

The Utica Acreage is in close proximity to Triad Hunter's existing acreage position in Washington and Noble Counties, Ohio, and now provides Triad Hunter approximately 18,187 gross (14,815 net) acres in in these two counties, and a total of 23,214 gross (17,316 net) acres that are presently prospective for the Utica Shale..

http://blackberrystocks.blogspot.com/

http://oilshalegas.com/uticashale.html

Bakken Shale - EOG Resources (EOG)

By Tim - http://oilshalegas.com

EOG Resources (EOG) recently gave a drilling update in the Bakken Shale.

Consistent with its game plan to increase recovery rates in existing fields, during 2011 EOG continued infill drilling on its core acreage in the North Dakota Bakken Parshall Field, which it discovered in 2006. Although originally developed on 640-acre spacing, EOG has successfully tested 320-acre down-spacing in various areas and around the perimeters of the field. A recent well in Mountrail County, the Fertile 48-0905H, in which EOG has a 96 percent working interest, was completed at an initial rate of 1,324 Bopd. Also in Mountrail County, the Liberty 24-2531H and Liberty LR 20-26H were drilled on 320-acre spacing. The wells, in which EOG has 82 and 95 percent working interest, respectively, were turned to sales at initial crude oil rates of 1,507 and 1,165 Bopd, respectively. Over the course of 2012, EOG will continue its efforts to increase recovery of the oil-in-place on its Bakken acreage through further down-spacing tests and the initiation of a secondary recovery pilot project.

http://blackberrystocks.blogspot.com/

http://bakkenshale.net